Africa Oil First-Quarter Profit Drops on Lower Production-March 2024-www.financetom.com

Africa Oil First-Quarter Profit Drops on Lower Production

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Africa Oil First-Quarter Profit Drops on Lower Production

May 15, 2024 2:50 PM

05:30 PM EDT, 05/15/2024 (MT Newswires) -- Africa Oil ( AOIFF ) on Wednesday said its first-quarter profit fell on lower production.

The company said it earned US$3.5 million, or US$0.01 per share in the quarter, down from US$21.9 million, or US$0.05, in the year-prior period.

Revenue was not disclosed.

The company's oil and gas production fell to 17,1000 barrels of oil equivalent per day from 20,900

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