Tag Archives | Norway

DNO Profits Surge on Back of High Oil and Gas Prices

DNO ASA, the Norwegian oil and gas operator, today reported an 84 percent jump in operating profit in the first quarter of 2022 to USD 236 million on the back of high oil and gas prices and solid production performance. Net debt dropped USD 126 million quarter-on-quarter to USD 27 million. "Oil and gas are […]

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DNO releases latest Production Data

By John Lee. DNO has issued an update on production and sales volumes for the quarter as well as other key financial information. Volumes (boepd): Gross operated production Q1 2022 Q4 2021 Q1 2021   Kurdistan 106,465 107,472 111,985   North Sea - - - Net entitlement production Q1 2022 Q4 2021 Q1 2021   […]

DNO reports Record Revenues

DNO ASA, the Norwegian oil and gas operator, today reported record revenues exceeding USD 1 billion in 2021, up 63 percent from a year earlier, on the back of high oil and gas prices and solid production performance. Annual operating profit climbed to USD 321 million, reversing operating loss of USD 315 million in 2020. […]

Zwipe, INC to pilot Biometric Payment Cards in Iraq

By John Lee. Norwegian biometric authentication firm Zwipe and International Network for Cards and Digital Payment Services (INC) have announced that they will pilot Biometric Payment Cards in Iraq. According to a press release from Zwipe, this will be the first biometric payment card pilot in the country, and INC will be offering issuance of white […]

Iraqi Cabinet Approves Scatec Solar Projects

By John Lee. The Iraqi Cabinet has approved the Ministry of Electricity entering into a the contract for the construction of two solar energy projects in Karbala (300 megawatts) and Alexandria/Iskandariya (225 megawatts). The Ministry of Oil had previously announced the project in October, involving a consortium of companies led by the Norwegian Scatec, whose […]

Half of Families in Drought-Affected Iraq need Assistance

One in two families in drought-affected Iraq need food assistance The scale of suffering inflicted by drought on Iraq's populations this year is laid bare in new research by the Norwegian Refugee Council (NRC). It shows that one in two families in drought-affected regions require food assistance because of drought, while one in five do […]

Zwipe, Areeba pilot Biometric Payment Cards in Iraq

By John Lee. Norwegian biometric authentication firm Zwipe is partnering with Areeba to pilot biometric payment cards based on Zwipe Pay ONE in Lebanon and Iraq. According to a press release from Zwipe, these pilots reflect a strong and growing demand from issuers and processors across the region for next-generation contactless payment cards. In these […]

DNO reports Third Quarter 2021 Results

DNO ASA, the Norwegian oil and gas operator, today reported third quarter revenues of USD 253 million, a 38 percent quarter-on-quarter increase driven by higher North Sea sales and strengthening commodity prices. The Company's operating profit climbed seven percent to USD 65 million, weighed down by non-cash net impairments of USD 40 million primarily related […]

DNO Completes $400m Bond Placement

DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new five-year senior unsecured bonds with a coupon rate of 7.875 percent. The placement met strong investor demand across international markets and was significantly oversubscribed, leading the Company to upsize the new bond issue from USD 300 […]

KRG Approves DNO Purchase of Exxon Stake in Baeshiqa

By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced that the Kurdistan Regional Government has approved the Company's acquisition of ExxonMobil's remaining 32 percent interest in the Baeshiqa license, doubling DNO's stake. In parallel, commerciality has been declared on the license with plans submitted for fast-track development including early production from previously […]

KRG Bureaucracy Delays DNO Investment

DNO ASA, the Norwegian oil and gas operator, has reported operating profit of USD 61 million in the quarter ending 30 June 2021, its second consecutive profitable quarter since the onset of the COVID pandemic. Revenues totaled USD 184 million, up USD 14 million from the previous quarter, as higher oil and gas prices more […]