Alliance Oil Company reduced net loss by 4% to $23 mln in Q1
Edited by Rhod Mackenzie / 2015-05-29 04:47:28
The net loss of Alliance Oil Company fell by 4.2% in Q1 2015 against Q1 2014 to make up $23 mln.
The revenue amounted to $498 mln against $861 mln in Q1 2014. EBITDA made up $86 mln (against $137 mln in Q1 2014). The EBITDA margin rose from 16% to 17$.
The net loss is mainly caused by the loss from the currency exchange rate of $20 mln.
The company’s extraction in Q1 fell from 5.1 to 4.8 mln barrels of oil equivalent.
The volume of oil processing fell from 8 mln barrels to 7.9 mln barrels.
