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Thursday, 25 August 2016

Cost cuts at UAE oil services firm Topaz Energy help to trim losses | The National

Cost cuts at UAE oil services firm Topaz Energy help to trim losses | The National:

"Topaz Energy and Marine drastically narrowed its losses in the second quarter of the year, mainly as a result of cost cuts, the UAE oil services company said.

Net losses in the three months to June 30 fell to US$700,000 compared with $4.1 million in the year-earlier period.

Direct costs shrank 19 per cent to $44.3m from $54.6m."



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