In the Q3, Petrolia Energy Corporation's corporate clients experienced a deterioration by -17.77 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 11.3 %. During the corresponding time, Petrolia Energy Corporation saw a revenue deteriorated by -58.13 % year on year, sequentially revenue grew by 87.1 %. While revenue at the Petrolia Energy Corporation's corporate clients fell by -18.49 % year on year, sequentially revenue fell by -9.17 %.
Customers of Petrolia Energy Corporation saw their costs of revenue deteriorate by -17.77 % in Q3 compare to a year ago, sequentially costs of revenue grew by 11.3 %, for the same period Petrolia Energy Corporation revnue deteriorated by -58.13 % year on year, sequentially revenue grew by 87.1 %.
Petrolia Energy's Comment on Sales, Marketing and Customers
The market for oil and gas is dependent upon a number of factors beyond our control,
which at times cannot be accurately predicted. These factors include the proximity
of wells to, and the capacity of, natural gas pipelines, the extent of competitive
domestic production and imports of oil and gas, the availability of other sources
of energy, fluctuations in seasonal supply and demand, and governmental regulation.
In addition, there is always the possibility that new legislation may be enacted
that would impose price controls or additional excise taxes upon crude oil or
natural gas, or both. Oversupplies of natural gas can be expected to recur from
time to time and may result in the gas producing wells being shut-in. Imports
of natural gas may adversely affect the market for domestic natural gas.
The market price for crude oil is significantly affected by policies adopted
by the member nations of Organization of Petroleum Exporting Countries (“OPEC”).
Members of OPEC establish prices and production quotas among themselves for
petroleum products from time to time with the intent of controlling the current
global supply and consequently price levels. We are unable to predict the effect,
if any, that OPEC or other countries will have on the amount of, or the prices
received for, crude oil and natural gas.
Petrolia Energy’s Comment on Sales, Marketing and Customers
The market for oil and gas is dependent upon a number of factors beyond our control,
which at times cannot be accurately predicted. These factors include the proximity
of wells to, and the capacity of, natural gas pipelines, the extent of competitive
domestic production and imports of oil and gas, the availability of other sources
of energy, fluctuations in seasonal supply and demand, and governmental regulation.
In addition, there is always the possibility that new legislation may be enacted
that would impose price controls or additional excise taxes upon crude oil or
natural gas, or both. Oversupplies of natural gas can be expected to recur from
time to time and may result in the gas producing wells being shut-in. Imports
of natural gas may adversely affect the market for domestic natural gas.
The market price for crude oil is significantly affected by policies adopted
by the member nations of Organization of Petroleum Exporting Countries (“OPEC”).
Members of OPEC establish prices and production quotas among themselves for
petroleum products from time to time with the intent of controlling the current
global supply and consequently price levels. We are unable to predict the effect,
if any, that OPEC or other countries will have on the amount of, or the prices
received for, crude oil and natural gas.
Sources:
Petrolia Energy Corporation’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Petrolia Energy Corporation’s corporate clients.
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