Quarterly Comment MAUREL & PROM
​M&P, the Paris listed oil producer, controlled by Indonesian oil company Pertamina, reported 4Q16 sales before full year results that will be released on 3 April 2017 before market opening.
4Q16 revenue increased by 29% yoy to €91m due to higher oil revenue in Gabon (+32%, 91% of FY16 revenue). It was driven by higher oil production volume (+6%), higher Brent price (+14%) as well as lower discount between Brent price and average selling price ($3.6 vs. $6.0). Gas production in Tanzania (6% of FY16 revenue) was c. 15% lower than in 4Q15 at €4m as the demand from industrial...
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