KrisEnergy trims loss to US$41m, writes down Thai assets

Singapore

UPSTREAM Asian oil and gas explorer KrisEnergy said on Thursday it will defer exploration spending until oil prices improve, as the company announced its full-year results that included a write-down of its Thai producing assets.

Capital expenditure will be just US$50.8 million in 2016, the lowest level since the company was set up in 2009, CEO Keith Cameron said in a statement.