KrisEnergy trims net loss to US$12.6m

Singapore

KRISENERGY, an oil and gas company that debuted on the mainboard last July, yesterday said it has narrowed its net loss for the year ended Dec 31, 2013, to US$12.6 million, from a net loss of US$17.7 million a year ago.

Gross revenue fell by 22.9 per cent from US$89.6 million a year ago to US$69.1 million in FY2013, as revenues from the sale of oil and liquids fell by 18.9 per cent to US$54.7 million, and that of gas fell by 35.2 per cent to US14.4 million.