Production, payment capacity and confidence in growth among Danish wind companies are marked by the corona crisis, confirms a survey by Wind Denmark. "An unfortunate picture," says the industry organization's CEO Jan Hylleberg.
The challenging staffing situation could end up resulting in failure to maintain crude extraction, according to the latest update on activities in the Norwegian North Sea by the Petroleum Safety Authority.
After going through an already strained period, oil service firm Aker Solutions has seen a significant downturn in economic activity since the coronavirus broke out, as is evident in the annual report, which also reveals a major pay cut for CEO Luis Araujo.
Energy Norway is feeling the effects of the corona crisis, which has halted installation and construction on nearly all projects. 30 percent of Energy Norway's members expect to lay off people, while 48 percent expect to downsize business.
Heavy downgrades don't affect the German gas giant's development plans in Denmark, where a major find is planned to be worked into the development of the Ravn field. The company is also preparing to drill a new well in the North Sea.
"Burning is the problem," says Helen Hagel, head of climate and environmental policy at Greenpeace Denmark. She dismisses the oil industry's proposal to cut two thirds off emissions from North Sea extraction.
The German utility's operating result has far surpassed market forecasts, but RWE still books a red bottom line for its ongoing activities. The sale of Eon, however, more than compensates for the underwhelming post.