The company, which holds the State’s Direct Financial Interest in offshore assets, reported a quarterly result after financial items of Nkr24.8 billion ($3.6 billion), a drop of 15% on a year earlier, after the Brent crude price plunged more than 27% during the period.
The earnings drop resulted in net cash flow to the state of Nkr19.5 billion, versus Nkr30 billion a year ago, with Petoro attributing the reduction to both lower sales volumes and reduced oil and gas prices.
Its
