Unitedenergy Group announced the unaudited financial report for the six months ended June 30, 2024, showing a 35.6% increase in the company's revenue compared to the same period last year, reaching around 8.44 billion Hong Kong dollars. However, the company's net profit decreased from around 1.66 billion Hong Kong dollars in the same period last year to approximately 1.01 billion Hong Kong dollars, a decrease of 39.3%. This decrease is mainly due to an increase in depreciation and amortization expenses. During the reporting period, the extraction costs of the company's exploration and production activities remained relatively stable compared to the same period last year, with an approximate cost of $4.2 per barrel of oil equivalent. The company's average equity production during the reporting period...Show More

Unitedenergy Group announced the unaudited financial report for the six months ended June 30, 2024, showing a 35.6% increase in the company's revenue compared to the same period last year, reaching around 8.44 billion Hong Kong dollars. However, the company's net profit decreased from around 1.66 billion Hong Kong dollars in the same period last year to approximately 1.01 billion Hong Kong dollars, a decrease of 39.3%. This decrease is mainly due to an increase in depreciation and amortization expenses. During the reporting period, the extraction costs of the company's exploration and production activities remained relatively stable compared to the same period last year, with an approximate cost of $4.2 per barrel of oil equivalent. The company's average equity production during the reporting period was approximately 102,298 barrels of oil equivalent per day, a slight increase. The company's exploration, development, and production activities in Pakistan, the Middle East, and North Africa proceeded steadily, resulting in 6 commercial discoveries. The group will continue to seek new market opportunities and focus on sustainable development practices. The company's annual general meeting of shareholders approved the adoption of amendments to the company's articles of association, allowing the company to hold and dispose of any repurchased shares of the company as treasury shares.