In 2021, Cadogan Petroleum plc (the United Kingdom), which own oil and gas assets in Ukraine, increased its net loss 5.1 times to USD 5.1 million year over year.
This is stated in the financial report of the company, published on the website of the London Stock Exchange, Ukrainian News Agency reports.
The company's 2021 earnings increased by 72.2%, or by USD 3.688 million, to USD 8.793 million.
On March 30, the company announced the resumption of its production activities in Ukraine, which were suspended in early March due to hostilities in the country.
As Ukrainian News Agency earlier reported, in 2021, Cadogan Petroleum plc boosted the production of hydrocarbons by 20% to 127,660 barrels of oil equivalent (boe), which corresponds to an average of 350 barrels per day, compared to 2020.
Cadogan Petroleum's current exploration and production assets are located in the west of Ukraine in Lviv region and the Po River Valley in the north of Italy.
The company's supporting operations include gas trading and oilfield services.
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