Gulf of Mexico hits Leni output

Leni Gas and Oil yesterday posted decreased oil production and increased pre-tax losses, mainly due to losses on disposal of the Gulf of Mexico. Output decreased from 64,650 barrels of oil in 2011 to 58,450 barrels of oil in 2012. Losses rose from £3.91m in 2011 to £7.71m in 2012. However, gross profits increased slightly from £1.06m to £1.09m over the period. The gas and oil producer plans to grow its portfolio in Trinidad this year and drill a new well.