Lundin Energy's sales halved in the third quarter

Lundin Energy is seeing negative impact from the Covid-19 pandemic and oil price crises even though the third quarter proved milder for the industry.

Photo: Lundin Energy Norway

Revenue at Lundin Energy (formerly Lundin Petroleum) has declined from USD 1.22 billion to USD 687 million this past year when comparing the third quarter of 2019 with the same period of 2020, shows an interim report from the Swedish company with big interests in Norway.

The setback can be directly transferred to the bottom line, where the result dropped from USD 519.9 million to USD 212.3 million compared to last year.

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