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Independent oil firm DNO reports Q2 profit plunge, eyes recovery

Thu, 30th Jul 2020 06:12

OSLO, July 30 (Reuters) - Independent oil firm DNO,
with operations in Iraq's semi-autonomous Kurdistan region and
the North Sea, reported on Thursday a sharp fall in April-June
core earnings, but said its performance has now begun to recover
from the COVID-19 pandemic.

DNO's earnings before interest, tax, depreciation and
amortization (EBITDA) fell to $12.9 million in the second
quarter from $176.6 million a year ago, the Oslo-listed company
said in a statement.
(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

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