Prosafe has spent USD 1.5 million on its planned merger with Floatel, a move that has yet to receive regulatory approval. The Norwegian Competition Authority will make a decision in late October.
"The stock price naturally reflects shareholders' expectation for the future, and I'm not in control of that, but we're aware of it," says Maersk Drilling CEO Jørn Madsen.
The British-Dutch fossil fuel supermajor's CEO, Ben van Beurden, says the world still needs investments in oil and gas.
For the first time since the industrial revolution, fossil fuels – mainly coal – are displaced as the UK's main source of energy, thus giving way to a mix of wind, solar and biomass.
The French oil and gas supermajor buys into Indian gas supply and initiates an LNG terminal partnership with domestic conglomerate Adani. Total expects to invest around USD 600 million in the Indian market, which big oil sees as particularly attractive.
Temporary application of a ten-year-old amendment to a convention means that Norway can now import CO2. This also marks the beginning of possible CO2 storage in the North Sea, petroleum and energy minister says.
Despite massive state subsidy, Norway's first floating offshore wind farm, Hywind Tampen, will hardly be profitable, Equinor's New Energy Solutions executive VP tells several domestic media.
In a stock exchange notice, the Norwegian oil firm reports an impairment exceeding USD 90 million and notes disappointing output during the quarter.
It is no longer comme il faut to invest or lend capital to an industry working with fossil fuels. The oil industry's main challenge is that there are no internationally agreed upon standards for sustainability. Thus, it can't document any progress on that front.
Basically, there are no state compensation costs associated with dropping the eight tender round, according to a response from the Danish Energy Agency. But the signal sent by canceling would be wrong, says a lawyer who has been advising one of the applicants.
"We continue to see oil companies initiating many activities, and even an oil price of just under USD 60 is not really prompting oil companies to halt activities," says Maersk Drilling CEO.
Revenue in the Norwegian oil service sector increased last year for the first time since 2014. But the peak level seen in 2014 is still far off, concludes a new report.
Maersk Drilling has previously announced that it is looking into potential acquisitions, but in an interview with Bloomberg News, the company's CEO says there is no rush.
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The Norwegian sovereign wealth fund wants to trim its organization by dismissing 100 personnel by late 2022, corresponding to one in six employees.
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The CEO of global oil group Total confronts politicians unfiltered. He is tired of governments and parliaments that talk about the "climate crisis" without making any decisions.
Both Njord Future and Martin Linge will be far more expensive than planned, according to new figures from the Norwegian state budget. The total overrun now amounts to more than EUR 2.9 billion. Operator Equinor refers to factors including safety.
Low oil prices and mounting financial stress is resulting in small and medium-sized shale oil extractors going bankrupt, and this could have far-reaching consequences.
The higher investment level on the Norwegian continental shelf will decline again next year, assesses market analysis firm Maritime Strategies International, citing underwhelming exploratory drillings in the Barents Sea.
Oil field Johan Sverdrup has now seen the first barrels of oil extracted after years of preparation. "At peak, this field will account for around one third of all oil production in Norway," says Equinor CEO.
EP Energy has attempted using US Chapter 11 rules, but investors don't seem confident.
BP CEO Bob Dudley is preparing to retire from the oil and gas supermajor and will be replaced with Bernard Looney, who is being promoted from within the group.
Equinor has entered a deal with Saipem, in which the Italian oil and gas contractor will bring new drone technology to the Njord field.
After several years in deficit, Danish company All NRG Oil & Gas is once again operating with black figures, and its bottom line has particularly benefited from the upturn on the Norwegian continental shelf.
Investment manager Credit Suisse Energy Infrastructure Partners acquires 25-percent ownership of the offshore wind farm from the Norwegian oil major for a rough amount of EUR 500 million.
"Whether Denmark is able to demonstrate independence and sovereignty depends solely on the country itself," says Russian President Vladimir Putin.
Attorney for the Supply Authority
Academic employee for environmental and nature tasks - eg Biologist, Land Inspector or Engineer
Analytical economist for regulating access to gas infrastructure in the North Sea and monitoring and analyzing the electricity and gas markets
Press and Event Consultant
Energy Advisor
Specialist for analyzing of high voltage components
Legal Consultant
Development-oriented Advisor for continued green conversion of the Gas system
The Supply Authority is looking for an economist for analysis
Technical Consultant
Political Consultant
