"The resilience Lundin Energy has shown in the face of the sharpest downturn in the history of the oil industry is a testament to the quality of the asset base, flexibility of our financial resources and operational excellence of the business and our people," writes Lundin President and Chief Executive, Alex Schneiter, in the group's H1 interim report Wednesday, showing a surprisingly lucrative result for the second quarter.
Lundin's net Q2 result lands at USD 178.8 million against USD 96.2 million from the same period last year. This advance is even more pronounced considering that the company got off on the wrong foot early this year and presented a first-quarter post-tax deficit of USD 310 million.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.