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DNO Bags $410 Million Financing by Placing North Sea Oil Output to Exxon, Shell

MT Newswires·12/18/2025 01:56:40
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01:56 AM EST, 12/18/2025 (MT Newswires) -- Norwegian oil and gas operator DNO (DNO.OL) secured $410 million in financing facilities by placing its North Sea oil production with the subsidiaries of Exxon Mobil (XONA.F, XOM.VI) and Shell (SHEL.L, SHELL.AS). The two-year offtake deal with ExxonMobil Asia Pacific provides a revolving credit facility of up to $185 million, according to a Thursday release. On the other hand, the agreement with Shell Trading and Shipping Co. covers a prepayment facility of up to $225 million and has an initial term of one year. Under the deals, effective Jan. 1, 2026, DNO's total North Sea oil output will be divided among the offtakers in equal portions.