Maersk Oil Profits Drop 47% on Lower Output, Prices

摘要

Denmark's Maersk Oil said Friday its second quarter earnings fell 47% year - on - year to $249 million due to a 21% decline in production and a weaker oil price; the decline in its Danish volumes was largely expected. Its UK Gryphon floating production, storage and offloading (FPSO) vessel only resumed production in May, and lower earnings were partly offset by a post - tax insurance payout regarding Gryphon of $133 million ( IOD May 30'13 ). In Algeria, the ramp - up of its El Merk field continued and it is almost back to full production. Drilling also began on Maersk's new development program in Qatar.