Norway Oil Firms Raise 2017 CapEx Forecasts
Norway's oil companies have increased their 2017 investment plans in the last three months, signalling a smaller-than-expected contraction for the industry, a survey by the statistics office showed on Thursday. Investments in oil…
Norway Proposes Spending Cap for $900 bln Oil Fund
Norway's $900-billion sovereign wealth fund, the world's largest, should shift more of its investments into equities and away from bonds to counter the effects of ultra-low interest rates, the government said on Thursday. And in a major shift in policy…
GasLog Mulls Issuance of Bonds
GasLog Ltd. ("GasLog" or the "Company") (NYSE:GLOG) is contemplating the issuance of new five year senior unsecured bonds in the Norwegian bond market. Proceeds will be used to partly refinance the Company's existing bonds maturing in June 2018.
Norwegian Oil Spend to Shrink Further in 2017
Investment in Norway's oil and gas sector, a cornerstone of the country's economy, will continue to fall next year as weak crude prices curb oil firms' spending, a survey conducted by Statistics Norway (SSB) showed on Thursday. Norway's…
Offshore Supply Ship Market Set for Consolidation
A glut of offshore supply vessels and falling demand from oil firms will trigger a restructuring of the still-fragmented industry, two of the largest owners of the specialty ships told Reuters on Tuesday. With crude prices down more than 70 percent since mid-2014…
Norway's PGS Plans Share Issue to Boost Equity
Norwegian oil services company PGS said on Wednesday it plans a share issue to boost its equity following a sharp drop in demand. The offshore seismic data collector hopes to sell 21.78 million new shares, equivalent to 9.99 of its current capital…
Vestas Q2 Order Intake is Highest Since 2010
Danish wind turbine maker Vestas Wind Systems has reported its strongest quarter for five years in terms of order intake. The company secured orders totalling 2,467 megawatt during the second quarter. On Tuesday alone, the last day of the quarter, it announced orders of 570 MW.
Maersk May Reward Shareholders as Oil Unit Suffers
Danish conglomerate A.P. Moller-Maersk may announce a second share buyback scheme in its 110-year history as early as Wednesday, analysts said, allowing it to reward shareholders as its oil unit takes a battering from a slump in prices.
Low Prices Threaten Arctic, UK Fields
Over 1 bln barrels could stay in the ground. Arctic Norway, mature British fields most vulnerable. British, Norwegian oil investments set for sharp falls but ongoing UK projects, Sverdrup to go on. Big oil and gas finds in waters…
Aker Solutions Taking $211 mln Writedown
Writedown follows Total cancelling a contract in June; shares down 0.5 pct, lagging Oslo benchmark. The market had already priced in the hit - analyst. Norwegian oil services firm Aker Solutions will write down 1.3 billion crowns…
Norway's 2015 Oil Investments to Fall, Weigh on Economy
Norway's oil and gas investments, a key economic growth factor, will fall sharply in 2015, an official survey showed on Thursday, increasing chances that the central bank will keep interest rates low for an extended period. Investments…
Gas tanker firm Avance announces Oslo IPO
Gas tanker operator Avance Gas Holding is planning an initial public offering (IPO) and aims to list its shares on the Oslo Bourse in April, one of its owners said on Wednesday, joining a flurry of Nordic firms planning stock market debuts.
