MARKETS

Smashing profits see Karoon pay Petrobras $120 million

AUSTRALIAN headquartered Karoon Energy has paid Brazilian state oil company Petrobras US$84.5 million (A$120 million) in contingent considerations for its acquisition of the offshore Buana oil field.

paul hunt

Smashing profits see Karoon pay Petrobras $120 million

Karoon acquired the Buana oil field in 2020 for US$665 million (A$948 million) in cash and shares. It is the company's first oil producing asset. At the time, it was one of the largest international...

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