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.
The Swedish power company will not build any more new onshore wind farms in Denmark and now intends to divest its current development projects totaling several hundred megawatts. The utility insists that its move is not due to many years of domestic obstacles.
Despite a reduced deficit in the fourth quarter, rig operator Borr Drilling exits 2020 with another deficit of more than USD 300m. The company, which recently secured approval for a rescue plan, still projects a stronger market.