PetroSibir: Year-End Report January – December 2020
2020 was a very difficult year. The entire world encountered unprecedented challenges, and the oil industry was one of those hit badly by the COVID crisis. Nevertheless, PetroSibir remained strong and quickly adapted to the new conditions. Efficient costs management combined with flexible Russian taxation of the oil industry helped us to minimise the losses. In addition, with our new partner in Bashkiria we successfully drilled the first exploration well in the Suyanovskoye licence and are now drilling the second. The new reserves and production along with growing oil prices have substantially increased the assets value and bring new opportunities.
Pavel Tetyakov, CEO
January – December 2020
- Total revenue: SEK 39 (58) million
- Operating result: SEK -1 (4) million
- Impairment Shelf -55 (0) million
- Net income SEK -55 (4) million
- Earnings per share: SEK -1.86 (0.14)
July – December 2020
- Revenue: SEK 19 (30) million
- Operating result: SEK -1 (2) million
- Impairment Shelf -24 (0) million
- Net income SEK -25 (2) million
- Earnings per share: SEK -0.85 (0.07)
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