Oil Refineries slashes loss in quarter

30.05.2012                      09.Siwan. 5772

Geschäftsbericht:

Oil Refineries slashes loss in quarter

Company reported that it ended the three months with a $6 million net loss, down from $13 million the same period in 2011.

Profits from oil refining helped to halve the losses at Oil Refineries Limited in the first quarter, compared with a year ago, even as results at the company's Carmel Olefins unit worsened.
Oil Refineries, which is controlled by The Israel Corporation and Petrochemicals Industries, reported yesterday that it ended the three months with a $6 million net loss, down from $13 million the same period in 2011….