UK oil and gas firm in Kazakhstan ends 2015 with loss

Business Materials 3 February 2016 20:01 (UTC +04:00)

Baku, Azerbaijan, Feb. 3

By Elena Kosolapova - Trend:

The UK oil and gas company Max Petroleum, operating in Kazakhstan, ended the year 2015 with loss, according to the company's financial statements posted on the website of the Kazakhstan Stock Exchange (KASE).

In April-December 2015, the company had a loss of $2.05 million, compared to $3.95 million in the same period of 2014.

The company's assets in late 2015 stood at $677,000, against $143.71 million at the end of 2014.

Max Petroleum's obligations rose to $5.19 million by late 2015 ($2.98 million at the end of 2014).

Its capital in late 2015 amounted to $4.51 million compared to $140.73 million in 2014.

Max Petroleum has repeatedly stated about its difficult financial situation.

The company operates in the energy-rich Pre-Caspian Basin in Western Kazakhstan.


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