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.
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), lower than the expected amount of 320,000 boe, according to Ritzau Estimates.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Maersk Oil reshuffles executive management in Denmark
For subscribers
Former Maersk Group CEO joins the board of BP
For subscribers
Maersk Oil pulls out of Norwegian gas field
For subscribers
.jpg&w=384&q=75){kind=logo}