Kurdish-focused energy company DNO International said revenues for last year were sharply lower, though it ended 2015 with an increase in cash balance. DNO, which has headquarters in Oslo, said revenues of $187 million for last year were down 59 percent year-on-year. More than 80 percent of the revenue was derived from its assets in the Kurdish north of Iraq. DNO and its partners at Genel Energy, a British company, announced earlier this week they received a joint payment of nearly $18 million from the semiautonomous Kurdish government for crude oil exported in January and another $3.6 million for outstanding entitlements. “The export payment arrangement just put in place provides regularity, predictability and transparency, thereby laying the foundation for stepped up investments in Kurdistan,” […]