EnergyWatch

Lundin Energy expects major impairment in first quarter

The Swedish oil firm has had to book impairments for over USD 80m in its first quarter financials.

Photo: Lundin Energy Norway

When Swedish oil firm Lundin Energy (formerly Lundin Petroleum) presents its first quarterly report of the year on April 29, it will reveal extra costs amounting to USD 81m for oil exploration – and the same amount in net foreign exchange loss.

This means that Lundin expects a total loss of USD 162m from the two impairments, the company states in a notice.

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