Aminex pares back its losses

Oil and gas group Aminex reported net losses of $900,000 (£576,000) for the year to the end of December – down from $4.5m in the previous year. It said gross revenues had risen to $9.3m, up from $7.1m in 2010, and total production in the US had increased by 62 per cent to 130,250 barrels per day. Aminex now plans to build its portfolio in Africa and divest non-core US assets.