Noreco's deficit deepens despite record cash flow
Despite advances on most parameters in the second quarter, the Norwegian oil outfit nevertheless saw deep-red figures on the bottom line.
BY MATHIAS JULIUS FALKENGAARD, TRANSLATED BY CHRISTOFFER ØSTERGAARD
In May, Euan Shirlaw took over as chief executive officer of Norwegian oil outfit Noreco, which is part of the Danish Underground Consortium (DUC) together with TotalEnergies and Nordsøfonden, after he had tended to most of the duties as interim CEO.
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