Offshore

Maersk Oil can now break even with USD 40 oil price

The oil division at Maersk Group booked slightly below projections both in revenue and results for the third quarter 2016. However, the division had a positive surprise after taxes.
Photo: Maersk
Photo: Maersk
by MAZ PLECHINGER

In the third quarter 2016, Maersk Oil booked revenue of USD 1,226 million (EUR 1,108 million) and a result of USD 701 million (EBITDA). This is slightly below the average analyst expectations of USD 1,274 million on the top line and EBITDA of USD 737 million. Maersk Oil's production came to 295,000 barrels of oil equivalents (boe) which is lower than the expected amount of 320,000 boe, according to Ritzau Estimates.

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