Home

The Korea Herald

Latest news

Most Popular

  1. 1

    K-pop group's manager dismissed for setting up spycam in theater dressing room

    K-pop group's manager dismissed for setting up spycam in theater dressing room
  2. 2

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  3. 3

    Why is Apple Pay struggling to get purchase in Korea?

    Why is Apple Pay struggling to get purchase in Korea?
  4. 4

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  5. 5

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  1. 6

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  2. 7

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 8

    [Today’s K-pop] BTS pop-up event to come to Seoul

    [Today’s K-pop] BTS pop-up event to come to Seoul
  4. 9

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  5. 10

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
지나쌤

KNOC to unload North Sea assets: reports

By Kim Byung-wook

Published : Jan. 29, 2021 - 17:58

    • Link copied


The Korea National Oil Corp. headquarters (KNOC) The Korea National Oil Corp. headquarters (KNOC)

State-run Korea National Oil Corp. is seeking to sell off its stakes in oil and gas fields in the British, Dutch and Danish North Sea, according to foreign media reports.

The KNOC, whose debt ratio stood at 3,415.5 percent in 2019, is attempting to dispose of parts or all of its North Sea subsidiary Dana Petroleum to secure liquidity.

Dana Petroleum is a British oil company acquired 100 percent by the KNOC. Dana Petroleum in January launched a process to sell a 10 percent stake in the Greater Tolmount Area and its entire operations in the Netherlands and Denmark. Dutch bank ING was reportedly appointed to run the process.

The KNOC neither confirmed or denied the reports regarding the liquidation.

By Kim Byung-wook (kbw@heraldcorp.com)

More from Headlines