North Sea field secures profit for Cairn Energy
After years of presenting red bottom lines, British Cairn Energy has now successfully generated a profit. The company is enjoying production from new fields in the North Sea.
First oil from two important fields breathes new life into one of the British oil companies that has been hardest hit by recent years of drastic oil price decline. Following losses of USD 497 million in 2015, and USD 151 million in 2016, it now seems that 2017 will bring a much-needed profit for Cairn Energy.
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