Siberia | Materials, extraction

Eastern Oil's 1Q revenue drops 22%

16 May '08
First quarter results released by Achinsk oil-refining factory of Eastern Oil Company shows net profit for the period totaled $3.5m, down 6.2 times from the same period in 2007. Revenue for the period was $46.4m, down 22%. Gross profit was $16.2m, down 2.3 times, according to the company. Eastern representatives cited higher prices for "oil refining services" as the main factor adversely affecting its earnings.
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