When Norway’s largest political party decided that the Lofoten Islands in the north should not be opened up to oil exploration, a chill ran down the spine of the energy Continue Reading
The largest party in Norway ’s parliament has delivered a significant blow to the country’s huge oil industry after withdrawing support for explorative drilling off the Lofoten islands in the Continue Reading
Western Europe’s biggest petroleum producer is falling out of love with oil. To the dismay of the nation’s powerful oil industry and its worker unions, the opposition Labor Party over Continue Reading
In a major policy shift during the weekend, Norway’s Labor Party—a long-time ally of the oil industry and the biggest party that is currently in opposition—said it would no longer Continue Reading
Western Europe’s biggest petroleum producer is falling out of love with oil. To the dismay of the nation’s powerful oil industry and its worker unions, the opposition Labor Party over Continue Reading
Weeks after Norway’s government proposed that the country’s US$1-trillion fund divest from pure exploration and production oil companies, the cabinet said on Friday that it will allow the world’s biggest Continue Reading
Norway’s state oil and gas major Equinor plans to join a battery technology investment fund worth US$180 million as part of a diversification strategy focused on renewable energy and storage, Continue Reading
After months of deliberations, Norway’s government proposed in March that the country’s US$1-trillion fund—the world’s biggest sovereign wealth fund—divest from oil and gas exploration companies. The move by the fund, Continue Reading
Norway’s state-led energy company Equinor sees the need for significant cooperation from the oil and gas industry to fight climate change, and lead the transition away from fossil fuels, the Continue Reading
The $1 trillion sovereign wealth fund of Norway may sell off all of its shares in oil producers. The move is a shot across the bow for the oil industry. Continue Reading
Another big step has been taken to end the hydrocarbon era, if the decision by Norway’s sovereign wealth fund to dump oil stocks and investments is a sign on the Continue Reading
Norway’s $1 trillion sovereign-wealth fund took a major step toward selling off some of its substantial holdings in oil-and-gas companies, a move to shield the oil-rich nation from the risk Continue Reading
Oil and gas production costs on the Norwegian Continental Shelf (NCS) rose by 7 percent in 2018 compared to 2017, ending a streak of several years of continuous cost reductions, Continue Reading
Stricter global climate policies could influence Norway’s oil and gas industry and lead to a phase out of oil and gas sooner than previously expected, Oystein Olsen, the Governor of Continue Reading
This weekend, Germany became the latest large European economy to lay out a plan to phase out coal-fired power generation, aimed at cutting carbon emissions—a metric in which Berlin has Continue Reading
Norway’s oil production fell by 2.1 percent year-on-year in December and lagged the Petroleum Directorate’s forecast for the month by 2.5 percent amid technical problems at some offshore fields, the Continue Reading
OMV, the operator of the northernmost oil discovery offshore Norway—Wisting in the Barents Sea—could begin production in 2026, the Senior Vice President of OMV’s Norwegian unit, Knut Mauseth, told Reuters Continue Reading
Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head Continue Reading
Norway’s 2019 oil and gas output will be smaller than previously forecast and reach its lowest level in three decades, the Norwegian Petroleum Directorate (NPD) said on Thursday. Western Europe’s Continue Reading
Almost a third of new cars sold in Norway last year were pure electric, a new world record as the country strives to end sales of fossil-fueled vehicles by 2025. Continue Reading
Norwegian gas system operator Gassco and Canadian energy firm Enbridge are working on reviving a 350 megawatt (MW) offshore wind project to boost power supply security at Norway’s Nyhamna gas Continue Reading
Norway’s Equinor said on Monday that it had found additional volumes of oil in the Johan Castberg license in the Arctic Barents Sea, and will consider tying-in the new discovery Continue Reading
Norway’s crude oil production has not only been sliding this year compared to last year—as expected—but it has also consistently underperformed the production forecasts of the Norwegian Petroleum Directorate (NPD). Continue Reading
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to Continue Reading
The rise in oil prices brought about the recovery of Norway’s oil industry, with companies lining up plans to invest in boosting oil production on the Norwegian Continental Shelf (NCS)—surely Continue Reading
Norway has received bids from 38 companies applying for new exploration acreage in the latest licensing round for mature areas on the Norwegian Continental Shelf, Norway’s Ministry of Petroleum said Continue Reading
After expressing concern about the long-term future offshore Norway, energy major Equinor said Wednesday that Brazil’s energy sector was now a core area. Equinor has more than 90,000 barrels of Continue Reading
After years of restraint since crude prices slumped in 2014, oil services companies are now at loggerheads with producers as they battle for what they see as a fair share Continue Reading
Companies invested in the oil and gas sector offshore Norway said Tuesday that the time to invest is now as the region faces a period of field maturation. “The Norwegian Continue Reading
Equinor has raised the resource estimate for its giant oil field Johan Sverdrup in the North Sea and said it was able to drive development costs for the project further Continue Reading
An expert commission tasked by Norway’s government with evaluating a suggestion that the country’s US$1-trillion sovereign wealth fund divests from all its oil and gas investments has advised against such Continue Reading
The next challenge for Norway’s oil industry may not come from another oil price crash. It could come from a political uncertainty over which new areas Western Europe’s biggest oil Continue Reading
Pointing to a high level of success for its assets in the Kurdish north of Iraq, Norwegian company DNO said it was paying its first dividend in 13 years. The Continue Reading
The Norwegian government reported results Thursday from an appraisal well in the North Sea that were better than operator Equinor expected. The Norwegian Petroleum Directorate, the nation’s energy regulator, reported Continue Reading
The Norwegian government reported Wednesday that total greenhouse gas emissions were lower, with declines in pollution from road traffic leading the way. Statistics Norway, the government’s record-keeping agency, published data Continue Reading
There’s been no luck in an effort to find new reserves near a multimillion-barrel prospect in the Barents Sea, the Norwegian government stated Monday. The Norwegian Petroleum Directorate, the nation’s Continue Reading
The Norwegian government gave Equinor consent to start production drilling in an oil field in the Norwegian Sea set for a production start next year. “We have given Equinor consent Continue Reading
Britain’s largest workers union, Unite the Union, threatened strike action on Equinor’s Mariner oil platform, the union said on Friday, and yet another strike on Total’s North Sea fields is Continue Reading
An unusually hot, dry second quarter saw Statkraft’s hydro-based power production fall 22% to 11.5 TWh for the period, the state utility said Thursday. Receive daily email alerts, subscriber notes Continue Reading
A labor group representing offshore employers in Norway said the nation’s reputation as an oil and gas producer was at stake because of strikes. As promised, an offshore trade union Continue Reading
Norway’s ongoing oil workers’ strike is set to shut more rigs on the Norwegian Continental Shelf as the employers’ association has not contacted the trade union for new talks yet. Continue Reading
When oil traders list the rising risks to global oil supplies, which have helped boost prices close to the highest level in four years, a host of country names usually Continue Reading
Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and Continue Reading
As many as 8 million barrels of oil have been discovered in parts of the North Sea not previously known to contain petroleum, the Norwegian government said. The Norwegian Petroleum Continue Reading
European energy security is enhanced now that the Norwegian government is vetting plans to enhance the Troll oil and gas field, Equinor stated Tuesday. Norway is one of the top Continue Reading
Higher oil prices and increased efficiency have made companies more optimistic that they could spend more on exploration on the Norwegian Continental Shelf (NCS) this year than they did in Continue Reading
Norway needs to see production trends develop in the Barents Sea to keep output steady beyond 2025. Map courtesy of the Norwegian Petroleum Directorate. June 21 (UPI) — Beyond 2025, Continue Reading
Supermajor Royal Dutch Shell said Wednesday it sold off its entire stake in two fields in production off the Norwegian coast for $556 million. Shell’s subsidiary in Norway sold its Continue Reading
Maintenance work at 10 different oil fields on the Norwegian continental shelf meant output was more than 10 percent lower than expected, the government said. The Norwegian Petroleum Directorate, the Continue Reading
Opening up more areas in the Barents Sea for drillers is expected to deliver in terms of future production, the Norwegian government said Monday. Eleven companies were offered 12 production Continue Reading
