State Trading Organisation (STO) has collected over USD 167 million as revenue in the last quarter of 2018.
STO received USD 167.785 million in the last quarter of the previous, which is an increase of over USD 10.8 million compared to the third quarter, according to the fourth quarter report. STO attributed the increase in its revenue to the increase in sales of oil. The sale of oil increased by 6% compared to the third quarter in 2018.
Moreover, the gross profit also increased during the last quarter of 2018 by USD 3.162 million or 11% compared to the third quarter, according to statistics. STO said importance in the last quarter was given on maintaining the oil prices.
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