DNO ASA, a Norwegian oil and gas operator listed on the Oslo Stock Exchange, has provided a business update regarding its operations in the Kurdistan region of Iraq. The company announced it has been instructed to prepare for the commencement of oil exports through the Iraq-Türkiye Pipeline, following new agreements between the Federal Government of Iraq, the Kurdistan Regional Government, and a consortium of international oil companies. DNO will deliver the Kurdistan Regional Government's share of sales from the company's operated Tawke license, which is currently averaging 38,000 barrels per day, for export. The remaining oil, representing the share of the foreign contractor group (DNO and Genel Energy International Limited), averaging 30,000 barrels per day, will continue to be sold to local buyers under existing contracts. Executive Chairman Bijan Mossavar-Rahmani commented that DNO welcomes the unlocking of oil exports from the Kurdistan Region to international markets. He noted that DNO has chosen not to engage directly in exports at this time, instead continuing to sell oil on a monthly, cash-and-carry basis to buyers at a per-barrel price in the low USD 30s. Buyers have organized their own arrangements to place oil purchased from DNO into the export pipeline, which the company views as supportive of the broader export initiative. DNO ASA remains active across multiple regions, including the Middle East, North Sea, and West Africa, with ongoing exploration, development, and production activities.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. DNO ASA published the original content used to generate this news brief on September 26, 2025, and is solely responsible for the information contained therein.
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