Scottish Oil Explorer Books $324 Million In First-Half Losses

Oil explorer Cairn Energy today booked a $324m (£251.8m) loss for the first half after it was hit by a hefty impairment charge related to its assets in Senegal. However, the FTSE 250 firm said that it had safely managed the coronavirus crisis and was well-positioned to generate future growth. The figures In a challenging year for oil producers, the Edinburgh-based company reported an average net output of 22,400 barrels per day, at the top end of its guidance. With oil prices currently more than a third lower than at the start of 2020, Cairn…