Orsted plunges 17% following US impairments, Trump adds uncertainty
Orsted shares fell 17% Tuesday, after the company posted an impairment charge for delays in a U.S. off-shore project. The sector is now facing uncertainty following President Donald Trump's…
Orsted shares fall 17% after US project fails, Trump's anti wind power policy hits
Orsted, the largest offshore wind developer in the world, saw its shares plummet 17% on February 2nd after it warned late on Monday about higher costs and delays for a critical U.S. offshore development.
Norway awards 53 stakes to the latest offshore oil and gas exploration round
Norway's Energy Minister said that in the annual licensing round held on Tuesday, 20 companies received stakes in 53 offshore exploration licenses for oil and gas. The number of licences…
Equinor extends Norway LNG Outage by 10 Days
Equinor announced in a Wednesday regulatory filing that it has extended the outage of its Hammerfest LNG facility in Arctic Northern Norway by 10 more days, to January 19, as they continue to repair a faulty compressor.
Norway's Troll field produced record volumes in 2024
Equinor, a Norwegian company, announced on Monday that the Troll field in the North Sea produced a record amount of natural gas in 2020. This is an increase of nearly 10% over the previous high in 2022.
Norway's oil and gas production fell in November but exceeded forecast
Norwegian Offshore Directorate said Friday that although the combined oil and natural gas production in Norway decreased from November of last year, it was still 2,6% higher than the official forecast.
Government body calls for support of offshore wind in Sweden
The development of offshore wind projects off the coasts of Sweden is not commercially feasible, according to a government panel tasked with speeding up and reviewing the process for authorising new wind farms.
Sweden and Norway consider early termination of green subsidies
They said that on Friday, Sweden and Norway had asked their respective energy regulators for options to end a joint certificate scheme earlier than the current target date of 2035. The…
Nordic countries debate energy policy after spikes in power prices
On Thursday, the hourly electricity prices in certain parts of Scandinavia reached record levels. They were tenfold higher in some cases than average, due to cold weather and lower wind power production.
Orsted sells 50% of its stake in Taiwan's wind farm for $1.64 billion
Orsted, a Danish company, announced on Wednesday that it had agreed to sell to Taiwanese Cathay Life Insurance a 50% share in its Greater Changhua 4 off-shore wind farm for approximately…
Equinor delays start of Arctic Castberg Oilfield until early 2025
Equinor, a Norwegian oil company, announced on Tuesday that it had postponed the start-up of its Arctic Johan Castberg field to January or Febraury 2024 from the end due to bad weather conditions in Barents Sea.
Equinor sells assets worth up to $2 billion in Nigeria and Azerbaijan
Equinor announced on Monday that it had completed the sale of its assets located in Nigeria and Azerbaijan, for up to a $2 billion total. This marked the end of the Norwegian oil company's presence in the two countries…
Lithuanian officials see a 'high probability' of Baltic Sea cables being intentionally cut
Gitanas Nuseda, the Lithuanian President said that it was highly likely that the two fibre-optic cables undersea that were damaged in the Baltic Sea last month were intentionally cut. After being damaged on November 17-18…
Equinor and Shell form UK Oil and Gas Joint Venture
The Norwegian group announced on Thursday that Equinor, a Norwegian oil company, and Shell would combine their British offshore assets in order to form a new entity owned by each party at 50%.
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.
