Caspian Sunrise PLC: Increase in the Price for Oil Sold to the Domestic Market
The Board of Caspian Sunrise are pleased to announce that it has been informed that the price for oil sold to the domestic market from its flagship BNG Contract Area has been increased to approximately $12.4 per barrel.
While this still lags far behind the international price it is approximately double the price received for most of the past 12 months and as such will be a significant boost for the Company’s finances.
Comment
Clive Carver, non-executive chairman commented.
“This news is very welcome and we hope it marks the beginning of the closing of the gap between international and domestic prices to levels seen before Covid-19.”
