DNO Posts Record Revenue Amid KRI Production Uncertainty

DNO, a Norwegian oil and gas producer, has reported record revenue of $761 million in the second quarter of 2026. This represents a 21% increase from the previous quarter, mainly due to higher North Sea production. Despite suspended operations in the Kurdistan Region of Iraq (KRI), DNO's operating profit rose by 55% quarter-on-quarter to $439 million.

The company averaged 88,400 barrels of oil equivalent per day (boepd) during the quarter, with the North Sea accounting for 84,900 boepd. KRI production, however, averaged only 300 boepd following the suspension at the Tawke license. DNO halted production and drilling at Tawke in late February due to regional escalation.

The company has since resumed operations at the Tawke and Peshkabir fields in late June and mid-July, respectively. However, export routes remain unavailable, and the share of current production is being sold into the local market at $35-$39 per barrel.