KrisEnergy back in the black on one-off gains
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
DESPITE a trying time for the crude oil industry, oil exploration and production firm KrisEnergy has swung to a net profit of US$46.3 million for the first quarter ended March, from a net loss of US$17.97 million a year ago.
The group said that the surge in earnings was mainly from the recognition of one-off gains of US$45.2 million from its acquisition of Block A Aceh and a US$7.3 million gain from the transfer of working interest for Block 105 and Block 120.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Singaporeans can now buy record amount of yen per Singdollar
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
StarHub hands Ensign InfoSecurity control back to Temasek in S$115 million deal, books S$200 million gain
