Policy & Trading

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.

"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.

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.

Norway inscribes ammonia into national hydrogen plan

Norwegian Oil and Energy Minister Tina Bru states that ammonia will be set on equal footing with the period table's most basic element in the country's looming new hydrogen strategy, wherein the chemical can be used as an emissions-free marine fuel.

Germany dives back into malaise

Following the last – and for once in a seldom while fully subscribed public tender – Germany's first round of onshore wind allocations have only attracted half the total available capacity.

Norway drops divisive hydroelectric tax reform

Norway's municipalities, energy sector and parliamentary opposition harshly criticized the Sanderud Commission's recommendations upon release in November. Now the government takes heed and gives up amending hydroelectric taxation.

Waste and ice cap could render Greenland sustainable

Rambøll is to study the possibility of creating electrofuels by mixing CO2 with hydropower from a waste disposal facility in Nuuk. In time, the solution could make Greenland a central carbon transformer and be implemented in governing Denmark.

South Africa finally sees light in the dark

In the midst of a crippling energy supply crisis, South Africa's president vows an imminent power auction and several other promotional actions for expanding the country's wind capacity by roughly 16 GW ahead of 2030. GWEC also sees signs of looming gigawatts.

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.

Statkraft moving toward BRIC

A year into Statkraft's transformation into a global major player within renewables, CEO Christian Rynning-Tønnesen says that many things have succeeded, for instance in Brazil, while India lags behind.

Boris Johnson fires energy minister

Development minister gains the positions of both energy minister and president of the COP26 summit in a government reshuffle where the environment minister gets the boot as well, while the minister for climate change withdraws.

EU Parliament green-lights energy list

No majority was gained in favor of blocking the EU Commission's new list on specially prioritized energy projects. Among other things, this means an upcoming energy island will be able to apply for special EU aid.

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