Oil & Gas

EU member states want to overhaul energy taxation

This Thursday, the EU's ministers of finance are expected to adopt a text that calls on the EU Commission to present a proposal for an overhaul of the EU's energy taxation directive. This could impact taxation of the maritime sector.

Danish state fund drops black energy investments

As of 2020, Danish state development fund IFU will stop supporting projects solely based on fossil energy. Domestic power plant developer BWSC warns against the measure, which it says is in violation of the Paris Climate Accord.

Noreco wants to pull USD 403 million from state coffers

The Norwegian oil company is activating postponed taxes worth 403 million in the first quarterly report following its acquisition of Shell's North Sea assets – money that Noreco first expects to recover in ten years, Chair Riulf Rustad tells EnergyWatch.

Atlantic Petroleum's deficit grows

Oil field Orlando should be able to put out 10,000 barrels per day, but the figure has never been higher than 5,000, with realized output of only 3,300 barrels per day.

Wintershall DEA upgrades output forecast

Newly merged oil company Wintershall DEA expects to earn more off its production. Lower oil and gas prices have impacted third quarter operations. The company has moreover appointed an advisor for an upcoming IPO.

Four rig companies lost a combined USD 1.6 billion in three months

Four of the world's biggest rig companies all booked major deficits in the third quarter, and only one company lands in an overall plus for 2019. The fifth, Maersk Drilling, did not publish its bottom line. "We provide the figures we provide at the moment," the company's CEO Jørn Madsen says to EnergyWatch's sister media, ShippingWatch.

Maersk Drilling maintains expectations for operating result

There is improvement in the drilling market, but contracts remain "relatively short," says Maersk Drilling in a trading update for the third quarter, in which neither operating result nor bottom line is included. The company maintains expectations for its operating result.

Shell exec flays offshore wind sector safety

The offshore wind industry has a lot to learn when it comes to safety – from, for instance, the oil and gas sector, says Shell's Vice President for Wind and HSSE Dorine Bosman in an interview with EnergyWatch.

Equinor enters new Irish offshore wind push

The Norwegian oil and gas giant expands its wind repertoire and joins up with Irish company ESB. Among other things, the parties are to develop wind projects on the Irish shelf.

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