RE: Brent @ $103 = $76 per barrel profit.24 Mar 2026 13:24
RNS FROM JANUARY 2025
Under the Cooperation Agreement and applying the very favourable fiscal terms of the Block XX Production Sharing Contract, after payment of processing costs and transportation, and after the government's royalty and production share are deducted, Petro Matad will receive a net back of more than $40 per barrel based on a sales price of $70 per barrel. Block XX crude will be sold at the same price as Block XIX crude which is Daqing 33 minus $1/barrel. Daqing 33 is usually priced at a small discount to Brent, presently a 3.3% discount.