InterOil Exploration and Production ASA (DE:1ZD0) has released an update.
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Interoil Exploration and Production ASA reported a significant increase in net production and revenues for the first half of 2024, with production rising to over 100,000 boe and revenues reaching USD 7.9 million, largely due to a stake acquisition in Santa Cruz assets. The company secured a beneficial commercial agreement with CGC in Argentina, boosting potential crude oil prices by USD 10/bbl. However, extreme weather conditions and community opposition in Argentina and Colombia have posed challenges to production and exploration activities, respectively.
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