NZOG posted a loss of NZ$6.2 million (US$4 million) for the recent financial year, which ended 30 June, falling from a net profit of NZ$10.1 million the previous year.
The company attributed the loss to a NZ$36.3 million write-down related to its stake in the Tui oilfields, off New Zealand, as low oil prices had brought forward the date when output from the fields is expected to become uneconomic.
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