RH Petrogas triples net profit in 1HFY2024

RH Petrogas' net profit in 1HFY2024 for the six months to end-June tripled y-o-y to $7.3 million. Revenue in the same period rose by 12.1% y-o-y to $46.2 million driven by higher average realised oil price and hiher lifted crude oil volume. RH Petrogras plans to drill another exploration well in its operated assets in 4Q2024 to capitalise on growing oil demand.