Norway Awards Oil Permits to 11 Firms in Arctic Licensing Round
Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the Barents Sea and three in the Norwegian Sea off central Norway, the Ministry of Oil and Energy said on Monday."This licensing round…
Aker Solutions to Acquire Reinertsen
Aker Solutions said it has agreed to buy oil-services provider Reinertsen in an asset deal set to be concluded in the second quarter, giving Aker Solutions ownership of Reinertsen's Norwegian oil and gas services business. The purchase price is NOK 212.5 million (roughly $25 million). The agreement excludes Reinertsen's liabilities as of December 19, 2016, when the company went into debt negotiation proceedings.
Statoil's Offshore Norway Project to give 248 mln boe
Statoil submits plans (PDO) for Njord extension, Bauge field; Total $2.4 bln investments, recoverable resources 248 mln boe. * Statoil's project manager Torger Roed says "we are working hard to make more decisions on new projects. Two of them are Johan Castberg and the Snorre expansion.
Statkraft Eyes Domestic Wind Investments
Norway's Statkraft is still considering investing in a 1,000-megawatt (MW) onshore wind power development at home despite scaling back its international ambitions to pay a full dividend, its chief executive said. Statkraft confirmed on Thursday it will not longer invest in offshore wind power projects, a decision that affects its planned participation in the Triton Knoll and Dogger Bank projects off Britain.
Norway: Wind Power Prospects Will Weather Cheap Electricity
Statkraft's surprise decision to cancel its flagship wind power project in Norway will not stop new wind developments, the country's energy regulator and industry representatives said. The state-owned group said this month it had decided toditch a major investment in large-scale wind power in central Norway because low power prices made it unprofitable. On Friday Credit Suisse's infrastructure fund and Swiss utility BKW AG expressed interest in the 1…
Statkraft Drops Norway Wind Project
Statkraft cancels 1,000 MW power project; Oil minister expects more projects to be scrapped. Norway could see more wind power projects scrapped due to low profitability, its energy minister said on Thursday after state-owned Statkraft cancelled a flagship development. In a major blow to the country's plans to increase its renewable energy output, Statkraft said it had decided not to invest in a planned 1…
Norway to Give More Time to Build New Renewable Plants
Renewable power producers will have more time to build new plants to qualify for a subsidy in Norway under a common support scheme with Sweden, the Norwegian oil and energy ministry said on Friday. Investors in renewable power plants, such as hydro, wind and solar, will have to complete their projects by end-2021 to be able to claim the support, instead of end-2020, the ministry added in a statement.
Power Line Project Delayed, to Affect Supply in Central Norway
A major Norwegian power line project will be delayed, which is likely to result in insufficient electricity supply and drive up prices in central Norway from late 2016, grid operator Statnett said. Construction of the Oerskog-Sogndal power line had to be stopped after a court revoked a permit that had been issued by the ministry of oil and energy, which means the line cannot be completed in 2016 as previously planned…
