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OMV appoints new CEO

Alfred Stern has a background in petrochemicals – a business that OMV is eager to expand in. ....

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Oil India Q3 PAT spurts 25% YoY on tax reversal

On a consolidated basis, Oil India s net profit jumped 25.4% to Rs 889.69 crore on 27.7% decline in net sales to Rs 2,137.34 crore in Q3 December 2020 over Q3 December 2019.
The profit was boosted by the company receiving direct tax reversal of Rs 1,158.54 crore during the quarter.
Pre-tax loss during Q3 FY21 stood at Rs 405.63 crore compared with pre-tax profit of Rs 1,012.67 crore in Q3 FY20. The Q3 result was declared after market hours yesterday, 11 February 2021.
On a standalone basis, net profit soared 122.4% to Rs 903.69 crore on 28% decline in net sales to Rs 2,126.01 crore in Q3 December 2020 over Q3 December 2019.
Adjusted EBITDA tumbled 39.61% to Rs 744.09 crore in Q3 December 2020 over Rs 1232.25 crore in Q3 December 2019. Adjusted EBITDA margin stood at 29.80% in Q3 FY21 as against 39.91% in Q3 FY20. ....

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Inpex Reports 1st Annual Loss in Over a Decade

Inpex Reports 1st Annual Loss in Over a Decade
Feb 11, 2021 8:05:am
Summary
by: Shardul Sharma
Posted in:
Inpex Reports 1st Annual Loss in Over a Decade
Japanese oil and gas explorer Inpex on February 10 reported a loss of yen 111.6bn ($1.1bn) for the 12 months ending December 31, as a result of lower realised oil and gas prices.
The loss marks the company’s first annual one in over a decade. It had reported a profit of yen 123.5bn in the previous year.
Inpex’s average realised crude oil price last year was $43.21/barrel, down from $64.16/b in 2019. It realised an average gas price of $3.61/ 000 ft ....

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Arthur Mbanefo: Rare-bred accountant, distinguished diplomat

By Clifford Ndujihe, Politics Editor
CHIEF Arthur Christopher Izuegbunan Mbanefo, MFR, CON, Odu III, 90, is a rare breed personality. Highly intelligent, cerebral and talented, he has excelled in many walks of life, making his marks in accountancy, business, international diplomacy, public policy formulation, educational administration, philanthropy, culture and the arts.
Born in Onitsha on June 11, 1930 to the famous Mbanefo family, Arthur was educated at St. Patrick’s College, Calabar, and trained in the United Kingdom as a chartered accountant. The young Arthur Mbanefo qualified as a chartered accountant in the United Kingdom in the mid-1950s and worked with respected accounting firms in Brighton and London. ....

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