DNO Latest International Financial News – Tawke Oilfield, Kurdistan, Share Price and more – brought to you by Iraq Business News
DNO International has released its Annual Statement of Reserves setting total remaining proved and probable (2P/P50) reserves at 520.3 million barrels of oil equivalent (MMboe) on a company working interest (CWI) basis as at yearend 2012. The comparable figures for yearend 2011, yearend 2010 and yearend 2009 were 371.9 MMboe, 194.2 MMboe and 149.4 MMboe, […]
By John Lee. DNO International ASA, the Norwegian oil and gas company, has announced record 2012 net profit of NOK 1.04 billion on operating revenues of NOK 2.84 billion. Fourth quarter 2012 net profit was NOK 810 million on operating revenues of NOK 1.43 billion. Shares in the company closed 2.8 percent higher on Tuesday. […]
By John Lee. Genel Energy has started shipping crude oil directly into Turkey from its Taq Taq oil field (pictured) in Iraqi Kurdistan, two weeks after exports from the region were halted, reports Bloomberg. According to the report, the KRG won’t resume exports through the central government pipeline network until the federal authorities pay the […]
DNO International has announced that its long-serving Managing Director, Helge Eide (pictured), is stepping down effective 31 December 2012. "After almost 17 years at DNO International, including the past 13 years as Managing Director, it was time to make way for a new generation of leadership," said Eide. He noted that he originally considered leaving […]
By John Lee. DNO International was advised by the Kurdistan Regional Government that a payment of USD 160 million was transferred last night for distribution to the foreign members of the Tawke joint venture in partial payment for past oil exports of oil from the Tawke field in the Kurdistan Region of Iraq. DNO's share […]
By John Lee. DNO International ASA, the Norwegian oil and gas company, today announced that gross production across its oil and gas portfolio has exceeded 100,000 barrels of oil equivalent (boe) per day for the first time, split two-thirds from the Kurdistan region of Iraq and the balance from Oman and Yemen. On a Company […]
By John Lee. Wood Group PSN (WGPSN) has been awarded a contract by DNO Middle East to provide engineering and project support services to the Tawke field, in the Kurdistan region of Iraq. The contract marks WGPSN’s expansion into Iraq. The energy services company will deliver engineering studies, detailed design, technical and operations support to […]
By John Lee. The Norwegian oil producer DNO International expects the Kurdistan Regional Government to pay the company part of the money it’s owed for exports by the end of the year. In September, Baghdad agreed to pay international companies 1 trillion Iraqi dinars ($858 million) and the KRG has received a first tranche of […]
By John Lee. DNO International, the Norwegian oil and gas company, announced today that the Benenan-3 well drilled on its Erbil license, Kurdistan region of Iraq, encountered an additional 210 meter oil column in the Najmeh reservoir which is expected to more than double the Benenan field's gross 2P oil-in-place volumes from 300 million barrels […]
By John Lee. Shares in DNO International, the Norwegian oil company with interests in Iraqi Kurdistan, were down 4% at lunchtime on Wednesday following the announcement of second quarter results: DNO International ASA, the Norwegian oil and gas company, today released results for the second quarter of 2012 with operating revenues of NOK 155 million, […]
By John Lee. DNO International, the Norwegian oil and gas company, announced today that its share of oil exports from the Kurdistan Region of Iraq has averaged 40,000 barrels per day from startup ten days ago and that the Company will continue to deliver these volumes at least through the first week of September as […]
By John Lee. Like good comedy, the secret of good investment is often said to be timing. Someone buying shares at the end of June in Heritage Oil, which has interests in Iraqi Kurdistan, may have had reason to be concerned if they planned to sell shortly afterwards, as the shares were suspended in early July […]
