- Russia-focused PetroNeft Resources booked a deeper annual loss, partly owing to exploration write-downs.

Pre-tax losses from continuing operations for the year through December amounted to $7.3m, compared to losses of $2.3m on-year.

They included a share of a joint venture's net loss in WorldAce Investments of $6.3m, which rose partly due to the write-off of wells at Tungolskoye.

Revenue rose modestly to $1.8m, up from $1.7m.

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