Norway Oil Investment to Rise in 2019
Oil and gas investment in Norway is expected to grow for a second year in a row in 2019 but will fall back between 2020 and 2023, an industry lobby group said on Monday.Western Europe's largest oil producer has seen a recovery in oil industry activity thanks to higher crude prices, after a slump in 2014-2016.Investment in Norway's oil industry is estimated to rise by 16 percent year-on-year to 184.5 billion crowns ($21.5 billion)…
Greenpeace Appeals after Losing Norwegian Arctic Lawsuit
Environmental groups launched an appeal on Monday after an Oslo court rejected their arguments that Norway's oil and gas exploration in the Arctic violates citizens' right to a clean environment. Greenpeace and Nature and Youth disputed the Oslo District Court's verdict last month, particularly that Norway could not be held responsible for greenhouse gas emissions from the use of its oil and gas exported abroad.
Statoil Achieves Climate Target Two Years Ahead of Schedule
Statoil has already achieved its 2015 target of reducing the CO2 emissions from the Norwegian continental shelf by 1.2 million tonnes annually from 2008 to 2020. The reduction equals the emissions from some 600 000 private cars annually, or almost every fourth car on Norwegian roads. “It is essential that we take strong and effective actions to meet the challenges…
Norway Oil & Gas Output at Risk if Labor Walks
Five Norwegian oil and gas fields will shut down production unless a wage deal is agreed with the Lederne trade union, an industry lobby group said on Friday. The shutdown would affect fields operated by Statoil , Shell and Eni and would cut output by 443,500 barrels of oil equivalent per day, the Norwegian Oil and Gas Association (NOG) said in a statement.
Norway Oil Strike Could Escalate Quickly -union
More than 300 workers on strike; conflict involves pay of more than 6,500 union members. A strike involving Norwegian oil service workers could be expanded at any time, but no decision has yet been made on whether to escalate the dispute, trade union Industri Energi said on Thursday. "We're satisfied with the current level of the strike but are monitoring continuously and can't rule out further escalation at very short notice.
Norway Labor Union in Small Expansion of Oil Industry Strike
Norwegian trade union Industri Energi will expand the ongoing strike among Norwegian oil service workers by 23 people, on top of the 335 that went on strike on Sept. 21, a union spokesman told Reuters on Friday. The strike affects operations of subcontractors to the oil industry, and could have consequences for the output of oil and gas in case of a protracted strike, the union and employers have both said.
Norwegian Oil Firms Plan to Cut Carbon Emissions
Norwegian oil and gas companies plan to cut greenhouse gas emissions by 2.5 million tonnes in the decade to 2030 as part of efforts to rein in global warming, the Norwegian Oil and Gas Association said on Wednesday. Statoil said it would account for 2 million tonnes of the total cuts planned for the Norwegian continental shelf. The goals could be achieved by measures including more efficient technology…
Norway Oil-well Service Workers Agree Wage Deal, Avoid Strike
Norwegian oil-well service workers and their employers signed a new wage deal late on Thursday, avoiding a strike, said the Norwegian Oil and Gas Association (NOG), which represents employers. A strike would not have had any immediate impact on production, according to the NOG. (Reporting by Stine Jacobsen and Gwladys Fouche, editing by Terje Solsvik)
Norway Oil Service Firms, Unions Fail to Reach Wage Deal
Wage negotiations between Norwegian oil service workers and their employers failed early on Wednesday, the Industri Energi trade union said in a statement. The Norwegian Oil and Gas Association, which represents the employers, separately said the negotiations had been put on hold for the time being. The talks cover about 6,500 union members at around 60 companies that are suppliers to the oil industry.
Norway Wage Negotiators Work Overtime to Avert Oil Strike
Norwegian oil workers and their employers extended wage negotiations past a midnight deadline on Saturday in a bid to avoid a strike that would cut the country's oil and gas production, said the state mediator who is hosting the talks. Three unions will put 755 workers on strike at several platforms operated by Statoil, ExxonMobil and Engie if their demands are not met.
Oil Below $50 on Supplies, Economy Concerns
Oil worker wage talks begin in Norway; return of Nigerian supply could hit prices -Goldman. Oil fell below $50 a barrel on Thursday, pressured by higher Nigerian output and concern about the economic outlook following Britain's vote to leave the European Union last week. Returning Nigerian supply will put pressure on prices, Goldman Sachs said, adding that outages caused by Canadian wildfires would virtually end by September.
Norway Oil & Gas Output to be Impacted if Workers Strike
Norwegian oil companies and trade unions began two-day wage talks on Thursday in a bid to avert a strike that would initially cut the country's output by 229,000 barrels of oil equivalents, the Norwegian Oil and Gas Association (NOG) said. Oil and gas production at five offshore fields operated by ExxonMobil, Engie and BASF's Wintershall unit will shut on July 2 if no compromise is found, it added.
Statoil to keep Fields Operating if Strike Happens
Statoil will initially keep oil fields operating even if negotiations set for June 30 to July 1 fail to avert a strike that would halt output at others, the Norwegian Oil and Gas Association (NOG) said on Wednesday. Workers at five fields operated by ExxonMobil, Engie and BASF unit Wintershall could walk off the job from July 2 if wage talks fail. That would cut Norway's output of oil…
Norway Oil Wage Talks Postponed after Helicopter Casualty
Wage talks between Norwegian oil workers and employers, which were due to start on Monday, have been postponed after a fatal helicopter crash in the North Sea on Friday, the Norwegian Oil and Gas Association said in a statement. "The accident at Turoey claimed 13 lives, and several of the member companies in the Norwegian Oil and Gas Association were affected," it added. There were no survivors.
Norway: Oil Industry Safety Deteriorated in 2015
The risk of accidents in Norway's oil industry rose last year after reaching record lows in 2014, a survey by the Nordic country's safety watchdog showed on Thursday. "The results are a warning sign. They indicate that something could be about to happen with the safety level," Petroleum Safety Authority (PTIL) chief Anne Myhrvold said in a statement. The latest survey…
Norway Oil Lobby: 2016-2017 Investments to Fall
Norwegian oil and gas investments will fall sharply in the next two years as low crude prices lead oil firms to cut back on spending, the Norwegian Oil and Gas Association, the industry's lobby group, said on Wednesday. 2016 investments are expected to fall to 149 billion crowns next year from 185 billion crowns in 2015, and will hit a seven-year low of 132 billion in 2017 before rebounding in 2018 and 2019, it estimated.
Norway Oil Industry Standardizes Contracts in Bid to Cut Costs
New standard practices in Norway for establishing contracts between oil firms and their suppliers will lower costs and increase competitiveness in a period of low crude prices, the head of the country's oil and gas lobby said. Oil companies and their suppliers signed two deals on Tuesday to standardize contract practices in an attempt to drive down costs, which roughly doubled between 2005 and 2012.
Norway Oil Lobby's 2015 Outlook is Dim
Norwegian oil and gas investments will fall to around 197 billion crowns ($28.9 billion) next year from 221 billion crowns in 2014, the Norwegian Oil and Gas Association, the industry's lobby group said on Tuesday. Oil investments will then level out and hold between 190 billion crowns and 205 billion crowns per year throughout 2019, the association said in a report.
Norway Oil Engineers May Walk off Job next Week
About 100 workers from oil services firms could walk off the job from July 5 if wage talks fail, the head of Norway's biggest oil sector union said on Friday, a move that would not have an immediate impact on oil output. However were such a strike to last for several weeks or longer, or if more workers were to join the action at a later stage, it could potentially affect production and even lead to shutdowns.
Norway's Politics Threaten Oil Competitiveness
Norway's high carbon tax, reduced tax allowances for investments and political meddling in oil and gas projects is threatening the competitiveness of the country's vital offshore energy sector, the Norwegian Oil and Gas Association said on Wednesday. The country still scores among the top producers for competitiveness but a study by consultancy IHS, commissioned by the industry lobby group, is showing growing risk.
