Corporate digest

Loyz Energy

A RENEGOTIATED consideration for a Thailand concession between Loyz Energy and Carnarvon Thailand resulted in a gain of US$19 million, helping Loyz Energy to post a fourth-quarter net profit of US$11.4 million. This is a reversal from a net loss of US$146,000 for the year-ago corresponding quarter.

For the three months ended June 30, 2017, revenue dropped 38 per cent to US$1.56 million. The contraction in revenue was due to the group's lower share of oil production volume from its Thailand concession, it said.