Maurel & Prom: in the green after its annual sales figures

(CercleFinance.com) - Maurel & Prom gained nearly 2% after the oil company announced sales for 2024 up 19% to $808m, as well as a 29% increase in group production (M&P share) to 36,222 boe/d.


At $593m, value-added production (revenues from production activities, excluding off-take and inventory revaluation) fell by 2%, with growth of 11% in Angola but declines of 1% in Gabon and 29% in Tanzania.

With a positive net cash position of $33m at 31 December 2024, M&P says it is "ideally positioned to seize new growth opportunities in parallel with returns to shareholders.

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