Muscat-Mubasher: Renaissance Services turned to losses of OMR 1.9 million ($4.9 million) in the first half of 2015, against profits of OMR 10.9 million ($28.3 million) in the same period of 2014, the Omani multinational company said in a bourse filing Tuesday.

The oil and gas company’s profits plunged 77.7% to reach OMR 1.2 million ($3.1 million) in Q1-15, compared to OMR 5.4 million ($14.1 million) in Q1-14.