London-Norway’s Noreco lost over three- quarters of its market value Wednesday after news of an extended shutdown and reserves writedown at its biggest asset raised fresh doubts over its financial solvency. The troubled producer said the E.ON-oper- ated Huntington field in the UK North Sea is facing limitations on its gas output from Octo- ber 1 due to offtake restrictions by BP’s CATS North Sea gas pipeline system.
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