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Norway’s first platform to be remote-operated from land

Business

Category: Energy

On Thursday 9 November, the opening of the Valemon control room was celebrated at Sandsli in Bergen. Valemon will be the first platform in Statoil’s portfolio to be remote-controlled from land. “This is a vital milestone for Statoil. We have had land-based surveillance and control of offshore operations for a long time, however, the remote […]

Source: Statoil

Published: November 18, 2017


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Oil Output Threatened as Norway Explorers Neglect North Sea

Business

Category: Energy

Oil explorers are neglecting their old hunting grounds in the North Sea, threatening to deepen an expected slump in Norway’s output in the middle of the next decade, the country’s industry regulator warned. Norway’s oil and gas production, which peaked in 2004, is already forecast to fall again after 2025 as old fields decline. But […]

Source: Bloomberg

Published: November 18, 2017


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Oil Majors Find Their Way Back to Normality as Earnings Surge

Business

Category: Energy

Oil supermajors are getting back to their normal way of life after surviving a price slump that shook the foundations of their business.  BP Plc gave the boldest signal yet that the worst of the downturn was over, announcing on Tuesday that it would buy back shares for the first time in three years. After posting […]

Source: Bloomberg

Published: November 18, 2017


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Oil firm Aker BP in $2 billion deal to buy Norway unit of Hess

Business

Category: Energy

Aker BP has agreed to buy the Norwegian unit of U.S. oil firm Hess in a $2 billion deal, the companies said on Tuesday. Hess is the latest global oil company to abandon or scale back its presence in Norway, following partial divestment by BP and Exxon Mobil in 2016 and 2017, respectively.  Aker BP […]

Source: Reuters

Published: November 18, 2017


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North Sea Oil Squeezed as U.S. Ships Crude Like Never Before

Business

Category: Energy

As crude oil gushes out of the U.S. like never before, it looks increasingly like North Sea oil will suffer collateral damage. America exported a record high 1.98 million barrels a day of crude in the week ended Sept. 29, equal to the crude that normally gets shipped every day in the North Sea. Much […]

Source: Bloomberg

Published: November 18, 2017


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