Petrel Resources losses widen by 25%

IRISH oil and gas exploration company, Petrel Resources said its full-year loss widened as it awaits payments from a contract on a southern Iraqi oil field.

The pretax loss widened 25% to €518,935 from €415,570 a year earlier, the Dublin-based company said.

Revenue was €28.95 million in the period, Petrel said, without providing a year-earlier comparison figure.