By John Lee. DNO International ASA ("DNO"), the Norwegian oil and gas operator, today announced that production from the Tawke field in the Kurdistan region of Iraq reached 120,021 barrels of oil per day in May, the first time average monthly production has exceeded 100,000 barrel per day. May production was split 60-40 between local […]
By John Lee. Norwegian company Hexagon Ragasco, a wholly-owned subsidiary of Hexagon Composites, has received an order of USD 13.6 million for the supply of LPG cylinders to Iraq. The order is for delivery in the second half of 2014. Jon Erik Engeset (pictured), CEO of Hexagon Composites, commented: "We are very pleased with the performance […]
By John Lee. Shares in DNO International, the Norwegian oil and gas company with significant interests in Iraqi Kurdistan, were trading up 5.4 percent on Thursday morning after the company announced third quarter 2013 net profit of NOK 282 million [$45 million] on operating revenue of NOK 810 million [$130 million]. The shares are now […]
DNO International announced today that it has commenced extensive testing of the Tawke-23 exploration well in the Kurdistan region of Iraq. The well is the second horizontal well drilled by the Company in the Tawke field and has encountered continuous oil shows within a 930 metre horizontal section in the main Cretaceous reservoir. The test […]
DNO International ASA, the Norwegian oil and gas company, announced today that oil production from the Tawke field in the Kurdistan Region of Iraq has averaged over 100,000 barrels a day during the previous 72 hours as the Company conducts well and pipeline deliverability tests following its 2012 drilling program and facilities upgrades. "We are […]
DNO International has announced first quarter 2013 net profit of NOK 169 million on operating revenue of NOK 581 million, but the company's shares fell by more than 1 percent. During the quarter, operational cash flow of NOK 547 million exceeded capital spending of NOK 368 million and contributed to an increase in the Company's […]
By John Lee. Norway's DNO International has published its 2012 Annual Report and Accounts detailing the Company's operating performance and audited financial results. DNO delivered revenues of NOK 2,842 million in 2012, up from NOK 2,070 million a year earlier, and net profit of NOK 1,040 million in 2012 versus NOK 653 million in 2011. […]
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. 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. The China National Petroleum Corporation (CNPC) is reported to be in talks with Russia's OAO Lukoil about joining the company’s West Qurna-2 project in Iraq. Lukoil is seeking a partner for a 30 percent stake in the project following the exit of Norway's Statoil’s, Nefte Compass said, citing Andrei Kuzyaev (pictured), head […]
LUKoil has reportedly offered Rosneft its African and Iraqi projects in a swap for Arctic shelf cooperation. LUKoil CEO, Vagit Alekperov, said on Thursday: “We have offered them our geological prospecting assets abroad. So far, talks are underway. We have offered them a whole package. If they are interested, we’ll offer them West Africa and […]
Iraq gave a veiled warning to France's Total on Wednesday not to make deals with the KRG without the approval of central government in Baghdad, reports Reuters. Kurdistan said on Tuesday it expects more oil majors to follow Exxon in striking deals in the region; Total has already said that it was interested. Iraqi Deputy […]
