Russia-focused Petroneft mulls potential sale, other options (updated)
25/11/2022 14:01
(Adds details on accountant)
Nov 25 (Reuters) - Russia-focused oil and gas producer
Petroneft Resources PTR.I PTR.L said on Friday it was
considering options including a full or partial sale of the
company's assets following difficult operational conditions due
to the Ukraine conflict.
The drilling of up to five development wells at Petroneft's
Cheremshanskoye field in Russia has been delayed for the
foreseeable future because of inability to secure financing, it
said.
The company, which is listed both in London's junior market
and in Dublin, also said the firm's accountant BDO intends to
resign in the wake of Western sanctions against Russia.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Devika Syamnath)
((abyjose.koilparambil@thomsonreuters.com; +919986528692))