Petrogress, Inc. Reports Earnings Results for the Full Year Ended December 31, 2020
June 21, 2021 at 04:31 pm EDT
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Petrogress, Inc. announced earnings results for the full year ended December 31, 2020. For the full year, the company announced total revenue was USD 8.628 million compared to USD 15.961 million a year ago. Operating loss was USD 3.467 million compared to USD 1.653 million a year ago. Net loss was USD 3.085 million compared to USD 2.950 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to USD 0.75 a year ago.
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.
PETROGRESS, INC. 
