Petroneft posts loss, raises €18m in funding

IRISH oil and exploration company, Petroneft has posted a retained loss for the first six months of this year of $532,626 (€422,149).

On the upside, in the same period, the company raised $23.5 million (€18.26m) by way of two private placings.

Unaudited figures show turnover for the period reached $25,262 (€20,022).