Norwegian oil company Noreco has for a while been able to dodge the worst consequences of the Covid-19 crisis, as the firm via its acquisition deal with Shell achieved oil prices of USD 75.3 per barrel in the third quarter – far above the market price of USD 42.7.
Still, this wasn't enough for Noreco to incur a profit on its bottom line, which ends up in a deficit of USD 3 million, according to the firm's interim report issued Wednesday morning CET.
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