Financial Supervisory Authority of Norway fines Interoil Exploration and Production NOK 700000 for late 2025 annual report

The Financial Supervisory Authority of Norway has imposed a NOK 700,000 administrative penalty on Interoil Exploration and Production ASA for failing to publish its 2025 annual report within the statutory deadline. The authority concluded that the company breached the Securities Trading Act requirement to publish the annual report no later than four months after the end of the financial year, meaning by April 30, 2026, and found the conditions for imposing a corporate penalty were met. Interoil had informed the market on April 30, 2026 that the delay was mainly linked to the February 2026 divestment of its Argentinian operations, which it said had increased the complexity of the financial reporting and audit process, and it expected publication by June 15, 2026. The authority said those circumstances did not excuse the delay, noting that listed companies are expected to have sufficient internal controls, competence and resources to meet time-critical reporting obligations. In setting the penalty, it considered the company’s market value as of Jan. 1, 2026 and used its 2026 listing fee of NOK 281,500 as the starting point under its established practice. It also treated as aggravating factors the company’s previous penalties for late annual reports for 2020, 2023 and 2024, as well as a separate penalty for errors in its first-quarter 2024 report and their correction in the 2024 half-year report. The company may appeal within three weeks of receiving the decision. If the decision is not appealed, the claim for payment will be issued after the appeal deadline expires. If it is appealed and the penalty is upheld in whole or in part, payment will be sought after the appeal is decided.