RAK Petroleum first-half profits down 15%

Dubai: RAK Petroleum reported on Thursday $2.8 million in profit for the first half of 2017, marking a 15 per cent decline from the $3.3 million recorded in the same half of 2016.

In its financial report, RAK Petroleum’s chairman said principal risks and uncertainties facing the company remain largely unchanged from 2016.

DNO, an exploration and production company in which RAK Petroleum owns a 40 per cent stake, recorded a net profit of $1.8 million on revenues of $158.4 million.