DNO says it will slash its 2020 budget by 30% or $300 million to protect its balance sheet as the coronavirus outbreak impacts the global oil and gas industry. The Oslo-listed company has already been contending with delayed payments in Iraqi Kurdistan. On Wednesday DNO said that its exploration, appraisal and development drilling campaign would be scaled back because of restrictions placed on staff movements and staff rotations in Kurdistan. It has also canceled its dividend for the first half of 2020.
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