Nov 11 (Reuters) – ConocoPhillips said on Wednesday it has discovered gas condensate offshore Norway, sending the oil producer’s shares up 2% in premarket trade.
The discovery was made northwest of the Heidrun oil and gas field and 150 miles (241.4 km) from the coast of Norway in the Norwegian Sea.
The company said preliminary estimates place the size of the discovery between 50 million barrels and 190 million barrels of recoverable oil equivalent.
Together with US Embassy Chargé d’Affaires Richard H. Riley, AmCham’s Jason Turflinger welcomed Patron-level member representatives for an exclusive, socially-distanced breakfast on November 4th at the US Embassy’s Villa Otium residence in Oslo.
After a long night, hopes of dissecting concrete election outcomes were off the table, with a record number of mail-in ballots leading to a delay in tallying. Guests gathered instead to watch results trickle in, while assessing various election outcome scenarios.
Gambit Hill & Knowlton’s Director of Public Affairs, Peter Skovholt Gitmark, and Doctoral Fellow at Kristiana University College Ketil Raknes started the group discussion. They touched upon the record-setting turnout of the election and outlined key differences in electoral processes between the US and Norway.
Soliciting input from guests such as NHO’s Tore Myre, Citi’s Pål Røkke, and the Ministry of Trade’s Jan Farberg, the discussion turned to Norwegian-American trade, election impacts on financial markets, and coming diplomatic processes.
Though guests left Villa Otium with no clear answer as to the winner of the 2020 US Presidential Election, they did leave with an enhanced understanding of how potential outcomes would impact transatlantic relations going forward.
Chargé d’Affaires Richard H. Riley
US Embassy
Peter Skovholt Gitmark
Director of Public Affairs
Gambit Hill & Knowlton
Ketil Raknes
Doctoral Fellow
Kristiania University College
AmCham Norway, in collaboration with our fellow Nordic AmChams and the US Embassy in Norway, proudly hosts our ongoing 2020 US Election Series. Featuring experts and commentators from diverse organizations such as C-SPAN, Fox News, Pew Research Center, TV 2, and the German Marshall Fund of the United States, the fact-based series enables business and government leaders to more accurately assess a political process that impacts us all.
The 147 Republican lawmakers who opposed certification of the presidential election this month have lost the support of many of their largest corporate backers – but not all of them.
The incoming administration will select Gina M. Raimondo, a moderate Democrat, to guide a sprawling department critical to business and technology.
This presidential election has been decided and it is time for the country to move forward. President-elect Joe Biden and Vice President-elect Kamala Harris have won the Electoral College and the courts have rejected challenges to the electoral process.
Innovation Norway is now following up the government’s new action plan for exports, and will strengthen our presence in some important export markets. At the same time, the number of permanent Innovation Norway offices abroad is reduced, and arrangements are made for more flexible and targeted export support in line with the advice from Norwegian business and industry.
– Our ability to export products and services is crucial for the development of a competitive and sustainable Norwegian business community. Innovation, business development and exports are closely linked. We are now making changes that will strengthen efforts towards export and give us the necessary flexibility to assist companies in the work of seizing market opportunities abroad, says CEO Håkon Haugli of Innovation Norway.
Verdens største tilbyder av finansielle tjenester, Citigroup, har over tre tiår med erfaring fra Norden og Norge. Hittil har de imidlertid hovedsakelig vært en aktør for de store konsernene.
Nå er det i ferd med å endre seg, ifølge Pål Rokke. Han leder stobankens norske avdeling. Selskapet har etablert en egen divisjon for små- og mellomstore bedrifter, som de nå skal styrke.
– Omstillingen av den norske økonomien skjer nå. Mer fornybart, mer ny teknologi. Vi vil i større grad knytte oss til det, med kunnskap, med kapital, og med vårt globale fotavtrykk, sier Rokke.
(RTTNews) – Norway’s central bank kept its key interest rate unchanged at zero, as widely expected, on Thursday.
The Monetary Policy and Financial Stability Committee unanimously decided to retain the policy rate at zero percent, Norges Bank said in a statement.
Due to the increased Covid-19 infection rates and more containment measures, Norway will likely put a brake on the upswing in the coming period, the bank noted.
Norway introduces new restrictions on travel from Monday 9th of November. Requirements for testing upon arrival are being introduced and travellers may be placed in quarantine hotels after entry to the country.
Norway introduces new restrictions on travel from Monday 9th of November. Requirements for testing upon arrival are being introduced and travellers may be placed in quarantine hotels after entry to the country.
The Office of the Prime Minister has released a press statement that outlines new measures to contain the outbreak of COVID-19. Read the full press statement here.
We expect these rules and requirements to be updated in the coming days. Make sure you get the latest information from regjeringen.no before you travel to Norway.
Those who plan to travel to Norway should be aware of the following requirements:
The requirement will not apply to Norwegians, persons who reside in Norway or persons in transit.
o The requirement does not apply to people who regularly come to Norway from Sweden and Finland to work.
o The requirement applies to health personnel who commute to Norway and who have been outside Norway for more than seven days.
o Personnel with jobs critical to society may be exempted when necessary to avoid danger to life and health.
Oilfield services powerhouse Baker Hughes has purchased Compact Carbon Capture, a Norwegian company developing novel techniques for capturing carbon dioxide emissions from the atmosphere. Compact Carbon Capture went through the Repsol Foundation Accelerator program last year.
OSLO (Reuters) – Norway’s $1.1 trillion sovereign wealth fund, the world’s largest, is having trouble finding suitable unlisted renewable- energy projects to invest in due to the paucity of projects and strong competition for stakes in them, its new CEO said.
Such investments are new for the fund which, until this year, was only allowed to invest in stocks, bonds and real estate.
“In our experience so far, there are many investors looking for these investments and pricing is thus not always as attractive for us,” the fund’s new CEO, Nicolai Tangen, told a parliamentary hearing on Friday.
A new study shows that revenues in the fledgling industry could soon come to rival those of today’s oil and gas giants.
Transitioning away from fossil fuels won’t be enough to slow climate change. The world has delayed the task of cutting emissions for so long that we likely will have to also deploy solutions to draw down carbon dioxide from the air.
Oljeselskapet dobler antallet ansatte på kontoret, men setter inn nye tiltak for å hindre koronasmitte.
Tirsdag 20. oktober økte ConocoPhillips bemanningen ved sitt norske hovedkontor i Risavika fra i underkant av 300 til 600.
Samtidig ble det innført krav om bruk av munnbind i fellesområdene på kontoret.
– Vi vet at bruk av munnbind gir økt oppmerksomhet på smittepotensialet og minner oss om at vi fremdeles har en pandemi pågående, noe som igjen er med på å redusere risiko, forklarer pressekontakt Stig S. Kvendseth til Aftenbladet/E24.