BW Energy reports profit for second quarter

BW Energy, which is listed on the Oslo Stock Exchange, booked a slight profit for the second quarter despite a challenging oil market. The company scaled back its investment program significantly earlier this year.

BW Energy CEO Carl K. Arnet. | Photo: PR / BW Energy

Oil company BW Energy delivers a small profit on its bottom line for the second quarter.

Compared to the first quarter of the year, BW Energy's operating income grew by USD 10 million in the second quarter, to USD 32 million, while the operating result, EBITDA, came to USD 21.8 million, against USD 14.8 million in the first quarter, which according to the company reflects "increased oil sales and realised oil price".

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