The challenging staffing situation could end up resulting in failure to maintain extraction efforts, according to the latest update on activities in the Norwegian North Sea by the Petroleum Safety Authority.
After coronavirus infections turned up at yet another Spanish factory and the halt on UK production, more of the OEM's blade factories are idle than in operation. (Updated with a statement from Vestas, 13:57 CET)
Even though European benchmark crude Brent's price has hit the lowest level seen in 18 years, its value could slide even further, according to Jason Bordoff, former Obama Administration energy advisor. "[It] is not done yet," he says.
Following the announcement that investments will be reduced, employees at Aker BP will be informed how many must leave the company due to lower activity, among other things. This will happen after Easter, and suppliers will also be hit.
Finally, Sweden's authorities now announce that they're working to end the national RE subsidy scheme by the end of 2021. The domestic wind sector has long yearned for its discontinuation, but the proposal, however, is useless in its current formulation, says sector lobby.
After going through an already strained period, oil service firm Aker Solutions has seen a significant downturn in economic activity since the coronavirus broke out, as is evident in the annual report, which also reveals a major pay cut for CEO Luis Araujo.
Norway's Energy Minister Tina Bru's rejection of Andmyran Vind's postponed commissioning means that plans for a 160 MW wind farm as well as a connected hydrogen plant are now shelved. Developers and local politicians are disappointed and surprised.
The Danish chemical company will supply technology to a coming facility in Arizona that will convert natural gas into gasoline. The concept can be used for, among other applications, reducing flaring within the oil and gas industry.
Oil firms have made broad cuts in their planned investments for the year. This has already entailed terminations of contracts with rig companies, and more will follow, analysts predict speaking to Norwegian media.