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InterOil Streamlines, Sells Refinery and Downstream Assets
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InterOil Corporation has announced another significant quarter with the sale of its refinery and downstream businesses, continued drilling in Papua New Guinea's largest exploration campaign, and with preparations well advanced for appraisal of the Elk-Antelope gas field.
Net profit for the quarter ended June 30, 2014 was $52.3 million, compared with a net loss of $13.2 million for the same quarter in 2013. The increase of $65.5 million was mainly attributable to a one-time gain of $49.5 million from the sale of the refinery and downstream businesses to Singapore-based Puma Energy Group Pte. Net profit for the six months ended June 30, 2014 was $370.9 million, compared with a net loss of $9.2 million for the same period in 2013, an increase of $380.1 million. At June 30, 2014, InterOil…- ✓ Full news archive — U.S., Canada & international coverage
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