RAK Petroleum, $50m profit

RAK Petroleum, $50m profit

RAK Petroleum Vice Chairman Hussein Sultan Al Junaidi has said the firm made a net profit of $50m in the 461 days to December 31, 2006, with deposits and gains from investments accounting for these returns as the company was mainly evaluating opportunities during its initial year of operations.

Al Junaidi added that the shareholders’ initial investment had grown to $864m since the formation of the company in September 2005.

Share this post