EnergyWatch

Atlantic Petroleum hopes for a positive cash flow next year

Atlantic Petroleum expects to achieve a positive cash flow in 2021, the company informs, although it depends on the oil price and whether production can commence at the company's Orlando field.

Photo: Arkivfoto/Colourbox

Faroese oil company Atlantic Petroleum continued to be strongly affected by a low oil price in the third quarter, although the company notes that the oil price has slowly been on the mend since bottoming out in March.

Low prices and lockdowns throughout the year have, however, meant that the company's Orlando field has yet to produce a positive cash flow although this was expected pre-crisis.

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