The operating profit of the Norwegian oil and gas company Vaar Energi, which is majority owned by the Italian Eni, fell over the period from January to March, compared with the previous year. As a result, on Monday, April 24, the company maintained its quarterly dividend at $270 million

For the first quarter, earnings before interest and taxes (EBIT) of $1.43 billion are down from $1.75 billion in the same period in 2022, but in line with the average survey forecast of $1.4 billion de Vaar with 13 analysts. In a statement, Torger Roed, managing director, indicated that they are maintaining a high level of activity overall to ensure production growth of more than 50% over the next three years

In the first quarter of 2023, Vaar expects production to reach over 350,000 barrels of oil equivalent per day (boed) by the end of 2025, up from 214,000 boed.