DNO posts $761M revenue, seeks KRI output recovery
Shafaq News- Erbil
Norwegian oil and gas producer DNO reported record revenue of $761 million in the second quarter of 2026, up 21% from the previous quarter, as higher North Sea production offset the impact of suspended operations in Iraq’s Kurdistan Region (KRI).
Operating profit climbed 55% quarter-on-quarter to $439 million, while net profit rose 65% to $83 million.
DNO averaged 88,400 barrels of oil equivalent per day (boepd) during the quarter, with the North Sea accounting for 84,900 boepd. Kurdistan Region production averaged just 300 boepd following the suspension of operations at the Tawke license.
The company halted production and drilling at Tawke in late February as a precaution amid US-Israeli strikes on Iran. Production subsequently “resumed at the Tawke and Peshkabir (Fishkhabur) fields” in late June and mid-July, respectively, with DNO seeking to restore output to levels recorded before the regional escalation.
DNO said its share of current production is being sold into the local market at $35-$39 per barrel while export routes remain unavailable.
Following the end of the quarter, DNO also offered to acquire the remaining shares in Genel Energy for 69 pence per share, a 38% premium to the company’s closing price before the offer.
