Norway to Admit Non-Resident Europeans Working in Oil Industry
Norway will allow entry to certain European citizens for work in sectors critically short of labor including agriculture and the oil industry despite its lockdown to fight the coronavirus pandemic, the government said on Monday.The measure, which takes immediate effect in the Nordic country…
Norway Oil Exploration Refunds Are Not State Aid -ESA
Norway's regulations allowing oil and gas companies to claim refunds for exploration spending do not constitute state aid, the European Free Trade Association Surveillance Authority (ESA) said on Wednesday."Having scrutinized it on the basis of a comprehensive complaint, ESA is satisfied that this tax rule does not entail state aid…
China Oil Majors Eyeing Arctic Onshore Blocks
China National Petroleum Corp (CNPC) and China National Offshore Oil Corp (CNOOC) have expressed interest in bidding for onshore oil and gas blocks in Greenland to be offered in 2021, officials from the island said on Tuesday.The Arctic island, a self-ruling part of Denmark…
Industry Groups Welcome Arctic Heavy Fuel Oil Ban
The Clean Arctic Alliance and indigenous groups welcomed the support given by member states to commence work on developing a ban on the use and carriage of heavy fuel oil in Arctic waters as the International Maritime Organization’s Marine Environment Protection Committee (MEPC 73) closed last week in London.Support for commencing work…
At Noble Group, Staff Exits and Debt Increase Risks
Noble shares fall as much as 49 pct after overhaul plan. Noble Group is slimming down drastically to its core Asian coal-trading business, but that may not be enough to revive its fortunes due to a staff exodus, shrunken balance sheet and debts of more than $3 billion, analysts and industry sources say.
Partners Advance Arctic Oil Spill Response Technology
Continually working to help improve oil spill response technologies, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) presented details on its latest efforts at the Arctic Oil Spill Response Research and Technology Workshop on April 26. There, Bureau staff presented…
Stolt-Nielsen's Results Show Bright Future
Stolt-Nielsen Limited today reported unaudited results for the second quarter ended May 31, 2015. Net profit attributable to shareholders in the second quarter was $42.5 million, with revenue of $500.7 million, compared with a net profit of $38.7 million, with revenue of $487.7 million, in the first quarter of 2015.
Arctic Nations to Fight Climate Change Despite Russia Tensions
The eight Arctic Council nations pledged on Friday to do more to combat climate change that is shrinking the vast frigid region, with countries trying to put aside disputes over issues like Russia's intervention in Ukraine. Meeting in the Canadian town of Iqaluit, 300 km (200 miles) south of the Arctic Circle…
Warming Aids Arctic Economies, but Short of 'Cold Rush'
Climate change is aiding shipping, fisheries and tourism in the Arctic but the economic gains fall short of a "cold rush" for an icy region where temperatures are rising twice as fast as the world average. A first cruise ship will travel the icy Northwest Passage north of Canada in 2016…
PIRA Energy Group's Weekly Oil Recap
NYC-based PIRA Energy Group reports that there is potential for Iceland volcano eruption to disrupt North Atlantic air traffic and jet fuel demand. In the U.S., crude stocks draw larger than the product stock build. In Japan, low demand builds product stocks. Iceland’s Met Office warned that the country’s largest volcano might erupt…
Global Carbon Market Hopes Fade, Australia Bows Out
The goal of a global carbon market to tackle climate change, once touted to reach $2 trillion by 2020, received a major setback when Australia on Thursday scrapped its planned carbon trading scheme, which would have been the world's third biggest. Australia's Emissions Trading…
Chinese Think-Tank: Arctic Energy Would Aid Economy
Oil and gas resources in the Arctic are an important resource to guarantee China's sustained economic growth and the country should actively look at developing it, state media on Wednesday cited a Chinese military think-tank as saying. The Arctic Council agreed in May last year to admit emerging powers China and India as observers…
GAO: U.S. Can Do Better on Arctic Policy
The U.S. needs a better strategy to coordinate and prioritize its policies related to the Arctic region, according to a Government Accountability Office (GAO) study out today that was released by Reps. Rick Larsen (WA-02), Tim Bishop (NY-01), John Garamendi (CA-03) and Senator Lisa Murkowski (AK). The GAO study focused on U.S.
Tullow Exiting North Sea for African Focus
Sells majority stakes in two UK assets for $75.6 mln; stakes sold to Faroe Petroleum. Faroe to take over operatorship of Schooner, Ketch fields. Tullow Oil has sold majority stakes in two UK North Sea gas fields to Faroe Petroleum for $75.6 million, a deal that kick-starts…
PlanetSolar Continues Scientific Voyage in North Atlantic
After several days of waiting for favorable weather, the MS Tûranor Planet Solar, the largest solar boat in the world, left the city of Boston, carrying three scientific team members from the University of Geneva (UNIGE), and a researcher from the Woods Hole Oceanographic Institution…
