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Horizon ramps up output but pivots to gas after profit collapse

Profit slumps 58% despite 24% sales lift as Horizon banks on Mereenie, Maari and Thai gas pivot

Maari cleared to soon boost Horizon's flailing bottom line. Picture Horizon boss Richard Beumont.

Maari cleared to soon boost Horizon's flailing bottom line. Picture Horizon boss Richard Beumont. | Credits: Horizon Oil

Horizon Oil – perhaps in need of a name change and on a mission to reinvent itself as a gas producer – has reported a steep profit fall despite higher production and sales, laying bare the squeeze on mid-tier...

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