MONTEVIDEO, March 18 Uruguay's state-run oil
company Ancap had a net profit of at least $15 million in 2016,
ending five years of annual losses, a government source said on
The full-year results will be reviewed by the company's
board later this month, added the source, who spoke on condition
of anonymity because he was not authorized to comment.
The positive 2016 result followed the board's decision to
not pass on lower crude prices to oil suppliers in the South
Ancap incurred $800 million in debt between 2011 and 2015,
triggering criticism of the government and an investigation by
prosecutors into potential corrupt business practices at Ancap.
(Reporting By Matías Larramendi; Writing By Mitra Taj; Editing
by Tom Brown)