Oil & Gas

Tyra intermezzo weighs down on Noreco

Oil company Noreco had three quarters shaved off its bottom line between Q3 and Q4 2019, partially due to a planned halt in extraction operations in the North Sea.

Equinor drops controversial oil plans

In the wake of massive protests, the oil company withdraws from a project in Australian waters. It wasn't profitable, says Equinor, which still wants to prospect for crude in the country.

Total's director for E&P Denmark resigns

Patrick Gilly, managing director of Total's activities in the Danish North Sea, has resigned from his post and will leave the company by the end of March. His replacement has been found.

"Massive risk" drives ESG bets at USD 108 billion Finnish Funds

Two major Finnish pension funds with USD 108 in AUM are briskly moving further into ESG territory due to "massive risk" factors tied to climate change, thereby seeking to avoid the major losses and stranded assets that some analysts say will hollow out banks, insurers and asset managers that fail to adapt to a greener agenda.

Private equity firm sells oil service companies

A Norwegian private equity firm sells four oil service companies for a total price of USD 139 million. Not long ago, another equity fund shelved its plans to sell a number of oil service companies.

Hungarian oil company plays woeful tune

Mol Group, which applied for permission to prospect for North Sea oil, slid by 9 percent in EBITDA last year. The Hungarian oil and gas company extracted more than expected, but challenging macroeconomic conditions tipped the balance to the firm's disfavor.

A solution to Dof's rescue plan drags out

Offshore shipping company Dof exits the fourth quarter with another million-dollar deficit despite an increase in revenue. The shipping company has yet to agree with its creditors on a rescue plan.

Shell sees market for cooled gas heating up

Two mild winters and Coronavirus effects have hit the LNG market. British-Dutch oil giant shell maintains, however, that liquefied natural gas will gain ground over the coming years.

BW Energy gets 700 new shareholders

BW Energy's initial public offering has been concluded with significant interest from Norwegian as well as foreign investors, writes the parent company in a notice.

Total dials down power sector fuel oil

The French oil giant intends to stop selling fuel oil to electricity markets, a move meant to reduce the combined carbon intensity of the company's products.

EU's sole new coal plant teeters

Investors behind the only new coal plant planned in the EU have opted to suspend financing. The facility will be built, asserts coming co-owner – but not necessarily with coal in the cauldron.

BP presents climate overhaul

BP aims to achieve net-carbon neutral upstream operations from 2050 and adjust much of the basis for its business. It will be tough, but it's also a fantastic opportunity, says the company's new CEO, Bernard Looney.

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