Norwegian oil company Noreco Wednesday morning presents an adjusted operating result (EBITDA) for the year's first three months of USD 105 million.

In a financial statement, Noreco writes that the quarterly result underlines the company's resiliency, both financially and operationally, against recent fluctuations seen in the oil industry. During the quarter, Noreco achieved an oil price of USD 71 per barrel, far above current market prices.