Vestas operating profit for the third quarter is below forecast
Vestas is the largest wind turbine manufacturer in the world. On Tuesday, it reported lower-than expected third-quarter profits and stated that its operating profit margin for this year will be at the lower end.
Aker BP Q3 profits fall short of forecasts, but output guidance is raised
Aker BP, a Norwegian oil company owned in part by BP, reported a larger-than-expected drop in operating profit for the third quarter. It also said that full-year production would be at or above its guidance.
Equinor is preparing to assess Sleipner B damages
Equinor, a Norwegian company, said it would survey the damage to its Sleipner B platform in the North Sea on Wednesday. The platform was closed late Monday night after a smoke alarm was raised in an electrical installation.
Vaar Energi Q3 operating profit beats expectations
Vaar Energi, a company listed in Oslo and majority owned by Italy's Eni, reported a higher-than-expected third-quarter operating result on Tuesday. It also forecast lower capital expenditures and production costs for 2024.
Norway court rejects environmental order against oil and gas field
The Norwegian Court of Appeal ruled on Monday in favor of the Government in an appeal brought by environmentalists who wanted to stop the development of three gas and oil fields. Greenpeace…
Equinor, Aker BP, Vaar face rising project costs, Norway budget shows
The Norwegian government announced on Monday that Aker BP, Equinor and Vaar Energi had raised their estimates of costs for major oil and natural gas development projects in the Norwegian continental shelf.
Neste shares fall 10% after Neste warns about weaker future renewables prospects
Neste, a Finnish refiner, cut its outlook for renewables for the third consecutive time in the past year on Wednesday due to lower sales volumes and falling prices. The company's shares fell 10%.
Aker BP begins production at Tyrving Oilfield amid legal battle between the government and Aker BP over approval
Aker BP, a Norwegian oil company, has begun production at its Tyrving off-shore oilfield. The Norwegian government is trying to overturn the court's ruling that the project approval was…
Orsted wins 3.5 GW in offshore wind contracts at UK auction
Orsted, a Danish company, has been awarded contracts worth 3,480 megawatts of capacity for its Hornsea 3 offshore wind projects and Hornsea 4 onshore wind power project in Britain's most recent renewables auction.
Norway's power grid operator reduces its demand forecast and deficit projection
Statnett, the Norwegian transmission system operator, said that the growth of Norway's electric demand in the next few years will be slower than originally projected because the electrification rate is lower than expected.
Vestas reduces its full-year profit forecast as rising costs bite
Vestas is the largest wind turbine manufacturer in the world. On Monday, it warned of a loss for the second quarter and cut its revenue and profit forecasts for the year. The company's stock fell 5%.
Norway restarts wind farm after losing 22-ton Siemens Gamesa Blade
The owner of a Norwegian wind farm said that after a four month outage, a large Siemens Gamesa blade will be partially re-started on Monday.Odal Vind lost the 72-metre blade (236 ft), weighing 22 tons, in April.
Eni, Vaar Agree to Buy Neptune Energy in $4.9 Billion Deal
Italy's Eni ENI.MI and its Norwegian unit Vaar have agreed to buy private-equity backed Neptune Energy in a deal valuing the assets of the gas and oil producer at $4.9 billion including debt…
When is a Cargo of Oil Certified "Carbon Neutral"? Ask Lundin Energy
Sweden's Lundin Energy has sold to Italian refiner Saras what it said is the world's first oil cargo certified as carbon neutral at the point of production, the two companies said on Monday.Oil…
Rystad: Oil Demand to Peak in 2026
The rapid adoption of electric vehicles (EV) around the world will probably cause global oil demand to peak two years earlier than previously expected, Norway's biggest independent energy…
Lundin Energy Chief Schneiter: Output Trending Upward at Sverdrup
Norway's Johan Sverdrup oilfield, the largest in western Europe, is ramping up production in the fourth quarter after the government increased its production permit, Lundin Energy, a partner in the field, said on Friday.Equinor-op
Equinor's Incoming CEO Wants to Be Best in Offshore Oil, Gas
Anders Opedal, who on Monday was named Equinor's new chief executive, said he wanted the Norwegian oil company to be both best in offshore oil and gas and at the same time have higher climate…
Norway's May Oil Output Down, But Still Above Forecast
Norway's oil production fell in May from the previous month but still exceeded official forecasts by 0.9%, the Norwegian Petroleum Directorate said on Friday.The country's crude oil output…
Norway Oil Companies Slash Investment Plans
Norwegian oil and gas investment, a key economic driver, is expected to decline sharply in 2021 after rising less than previously anticipated this year, an industry survey by the national…
Norway Earmarks $369M for Green Industry Investments
The Norwegian government proposes spending 3.6 billion Norwegian crowns ($369 million) on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the…
