DNO ASA, a Norwegian oil producer focused on northern Iraq, said its fourth-quarter loss more than doubled after higher output from the autonomous Kurdistan region failed to counter impairments due to lower crude prices. A net loss of $252.5 million came after an impairment of the same amount on oil and gas assets, the Oslo-based company said in a statement on Thursday. That compared with a $98.1 million loss a year earlier, and missed the average estimate for a $4.8 million loss of nine analysts surveyed by Bloomberg. “Our focus in 2015 is to align our spending with our earning,” Executive Chairman Bijan Mossavar-Rahmani said in the statement. “We are targeting operating efficiencies, cutting back on discretionary expenditures and high-grading our portfolio.” The loss comes as DNO continues to build up production, especially from its flagship Tawke field, after the semi-autonomous Kurdish and central Iraqi governments reached […]