Nostrum Oil & Gas PLC - Amsterdam-headquartered oil and gas company with operations in Kazakhstan - Expects quarterly revenue to rise despite falling oil sales. Daily sales of barrels of oil equivalent per day in three months ended March 31 falls to 14,059 from 17,419 a year ago. Daily production shrinks to 14,683 boepd from 19,341.

Expects quarterly revenue of $60 million, up from $46.2 million a year ago. On Thursday, Nostrum explained that oil prices in 2021 rose by over $20 per barrel to $75 per barrel by the end of the year. Prices have been volatile since the Russian invasion of Ukraine, reaching over $130 per barrel at one point, the oil company added.

Company says Covid, war in Ukraine and unrest in Kazakhstan at the start of the year had no impact on business. Meanwhile, firm plans to build a short pipeline to receive Ural Oil & Gas LLP feedstock by the fourth quarter of 2023.

Current stock price: 5.34 pence, down 8.0% on Friday

12-month change: down 54%

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