Norway's Vaar Energi raises production goal, beats profit expectations
Vaar Energi is majority owned by Italy's Eni. On?Tuesday, it raised its production target and reported a higher than expected operating?profit in the fourth quarter. However, Vaar Energi said that they would be cautious…
Norway Parliament rejects any challenge to LNG plant power supply
The Norwegian parliament rejected on Thursday a proposal that would have blocked?Equinor from supplying electricity to its Hammerfest LNG plant using the power grid of the region. This allowed the "ongoing" development to continue.
Norway Parliament Rejects Challenge to LNG Plant's Power Supply Plan
Norway's parliament on Thursday rejected a proposal to block Equinor's plan to supply electricity to its Hammerfest liquefied natural gas (LNG) plant from the region's power grid, allowing the ongoing development to continue.Opposition parties had sought to revoke the L
Norway Socialist Party Withdraws Support for LNG Electricity Project Opposition
Norway's Socialist Party has withdrawn its support for a proposal to block Equinor's Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed.Parliament is due on Thursday to vote on a
Tanzanian minister: Tanzania will sign $42 billion mega LNG Project before June
A senior government minister said on Monday that Tanzania is expecting to sign a deal before June for its $42 billion project to build a liquefied gas plant. Production will begin in eight years. Equinor & Shell are the joint operators for this mega-gas project.
After cutting costs, Equinor hopes that it can finalize the technical plan for the world's most northern oilfield.
Equinor, a Norwegian company, aims to finalize the technical plans for the development of the Wisting?undersea?oil discovery in the Arctic this year after reducing?its?costs significantly. ?on Tuesday. In 2022, Equinor…
Oil Firms in Norway to Drill 18% Less Exploration Wells by 2026, Survey Finds
A survey on Thursday showed that oil firms in Norway are planning to drill 18% less exploration wells next, as they focus on existing fields. This could undermine the government's aim of maintaining production from Europe's…
ConocoPhillips finds gas off Australia
ConocoPhillips, the oil giant, announced on Monday that it had discovered gas off of the coasts of southeast Australia. The company began its first exploration drilling in November. Two targets located off the coasts of Victoria were identified by wireline logs.
ConocoPhillips launches natural gas drilling offshore eastern Australia
ConocoPhillips, a U.S.-based independent company, has begun drilling its first exploration hole as part of a larger campaign to search for natural gas off the eastern Australian coast, 3D Energi its junior partner said on Monday.
Vaar Energi Q3 in Norway beats expectations
Norwegian oil firm Vaar Energi reported on Tuesday a stronger-than-expected operating profit for the third quarter and reiterated its production and dividend guidance. Vaar's earnings for the quarter of July-September rose from $740 to $1.07 Billion, a jump of 74%.
Equinor abandons offshore electrification due to rising costs
Equinor, citing rising costs, informed the Norwegian government that it had scrapped its plans to reduce greenhouse gas emissions through the connection of several offshore platforms with the onshore grid. Norway's oil…
TotalEnergies sells Norwegian oil assets Vaar Energi to reduce debt
TotalEnergies announced on Wednesday that it had agreed to divest its interests in mature oil fields offshore Norway. This is the latest step in an overall divestment plan aimed at reducing debt. French oil major announced…
Norway Oil Industry Investment to Peak in 2025: Survey
A survey by the Statistics Office of Norwegian industry participants showed that oil and gas investment in Norway is expected to peak this coming year and then start decreasing next year. Major projects will be completed.
Equinor extends Norway LNG Outage until August 3
Equinor, a Norwegian company, has extended a maintenance outage to its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility by another five days, until August 3. The company announced this in a filing with the regulatory authorities on Saturday.
Equinor Extends Maintenance Outage at Hammerfest LNG Plant
Norway's Equinor has extended the maintenance outage at its Hammerfest LNG terminal, Europe's largest liquefied natural gas export facility, by 10 days to July 29, the company said on Monday.The Hammerfest plant in Arctic Norway…
Engie buys DNO's Norwegian gas production for four years
The Norwegian company DNO announced on Wednesday that it had sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie at an undisclosed price. The deal was facilitated by an American bank loan, as U.S.
Engie buys DNO's Norwegian gas production for four years
DNO sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie, for an undisclosed amount. It said that a U.S. loan facilitated the deal, as U.S. banks increase funding for the fossil fuel sector.
Prices for gas in Europe hit a 1-week high due to tight supply and EU's Russian Gas Ban Plans
The Dutch and British wholesale prices of gas rose by more than 6% Tuesday, reaching their highest level in over a week. Unplanned outages as well as European plans to phase-out Russian gas supplies boosted sentiment.
Hammerfest LNG Plant in Norway will be closed for maintenance from July until August
Equinor announced that its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility, was shut down on Tuesday for planned annual maintenance. According to a regulatory document, the maintenance outage,…
The price of gas in Europe has risen to a record high for a week due to increased demand and the Norway gas outage
The wholesale gas prices in the Netherlands and Britain rose on Tuesday morning as the weather in Norway was cooler and less windy, and the market tightened. Meanwhile, the need to fill gas storages continued to support the price.