All posts by Margrethe Harboe

Exclusive: Equinor considers more US asset sales in global strategy revamp

Business News, Energy

OSLO (Reuters) – Norway’s Equinor is looking to sell more assets in the United States and exit several other countries as part of a major global reshuffle as it tries to return to profit after writing down $25 billion of U.S. assets over the past decade.

While the company, like other energy majors, has been hit by last year’s fall in oil and gas prices, Equinor’s new head of international business, Al Cook, said it lacked scale in the U.S. shale market and had underestimated the strength of local competition.

Read full article

Yara proposes NOK 20 per share dividend, establishes Clean Ammonia unit

Business News, Energy, Financial / Investment

Yara reports improved fourth-quarter deliveries, offsetting the impact of higher energy cost. Fourth-quarter net income was USD 246 million (USD 0.93 per share) compared with USD 199 million (USD 0.73 per share) a year earlier.

“Yara delivers its tenth consecutive quarter with improved capital returns, with increased deliveries and production offsetting the impact of higher energy prices. Yara has performed well during 2020, and we propose a NOK 20 per share dividend to the annual general meeting, bringing our total cash distribution to shareholders for 2020 to NOK 52 per share. I would like to give credit to our entire organisation for a solid effort in this demanding year, driven by our strong common purpose,” said Svein Tore Holsether, President and Chief Executive Officer of Yara.

Read full article

Kongsberg Digital Enters Partnership With Nautilus Labs

Business News, Technology

The new partnership will see Nautilus Platform integrated within the Kognifai open digital ecosystem. 

Kongsberg Digital and Nautilus Labs are pleased to announce a partnership to include the Nautilus Platform fleet and voyage optimization tool in the Kognifai open ecosystem. By teaming Nautilus Platform with KONGSBERG’s Vessel Insight service, the companies will deliver joint value to clients through seamless extraction, contextualization and analysis of quality vessel data for use in AI–driven performance tools. 

Read full article

U.S. Chamber of Commerce Appoints First Woman C.E.O.

Business News, Politics

Suzanne Clark will become the first woman to lead the century-old group when the change takes effect on March 11.

The U.S. Chamber of Commerce on Tuesday appointed Suzanne Clark as its next chief executive, one of the most powerful jobs in business, ending a 24-year run by Thomas J. Donohue.

Ms. Clark will have to manage a bitterly divided Washington as the chamber, the nation’s largest business lobbying group, seeks to cement a transition from being a steadfast Republican ally to promoting bipartisan moderation.

Read full article

Equinor sells its US onshore assets in the Bakken

Business News, Energy

Equinor (OSE: EQNR, NYSE: EQNR) has agreed to divest its interests in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, backed by EnCap Investments, for a total consideration of around USD 900 million.

The transaction covers all of Equinor’s operated and non-operated acreage, totalling 242,000 net acres, and associated midstream assets in the Bakken. Entitlement production from these assets in 4Q 2020 was 48,000 barrels of oil equivalent per day (net of royalty interests). In parallel with this transaction, Equinor Marketing and Trading will enter into a term purchase agreement for crude offtake with Grayson Mill Energy.

Read full story

Rising Leaders: Leadership, Balancing Hard Core and Heart Core

AmCham News, Rising Leaders

Rising Leaders: Leadership, Balancing Hard Core and Heart Core

Rising Leaders participants and AmCham members were joined by Elisabeth Hellemose, Branch Manager at AIG Norway, for the first virtual after-work session of the year. 

Hellemose shared how each of her previous roles guided her to finding her passion for working with people and helping them bring their own passions into the office. She explained that leaders need to have a hard edge, but the bigger challenge could be exhibiting the soft side.

She went on to outline her leadership passions, including how to make employees comfortable being themselves and voicing their needs so they can tap into their full potential as well as “loving the difference” that each employee brings to the team.

“I want to work with people that are different than me. Be that background or skillset. That makes me reflect and we can complement each other.” – Elisabeth Hellemose

The Future of the Office

With the working environment a key current theme, Elisabeth predicted that the office will have a different function than before and perhaps needs a new layout to accommodate. 

Leaders will have to be mindful of the purpose the office will play for their employees. She suggests a quiet area for employees who are looking to work in peace away from home, and a separate social area for group-work as well as to fulfill the interaction needs of employees. AIG has offered alternative workspaces to some employees who are not able to work from home. 

Leadership Challenges in a Remote World

COVID -19 has shown that employees do not need to be in the office to perform but working from home has blurred the lines of personal life and business. Hellemose noted that there can be a higher threshold to log off from the office when the office is now in the kitchen or living room. 

She feels that production and productivity have not necessarily decreased, but co-creation between functions and innovation may suffer as communication tends to become more siloed without natural interaction at the office. 

Some Rising Leaders felt that their day tends to disappear into endless virtual meetings. The group discussed how leaders can create social interaction digitally, without implying obligation. Hellemose believes that social spaces will be increasingly important for co-creation. 

Speaker

Elisabeth Hellemose

Branch Manager

Updated Tiles Rising Leader Spotlight (10)
25
23
1
11
14
24
16
4
22
18
12
9
8
7
2
5
Jakob Profile
Updated Tiles Rising Leader Spotlight (8)
Updated Tiles Rising Leader Spotlight (7)
Updated Tiles Rising Leader Spotlight (6)
Updated Tiles Rising Leader Spotlight (5)
Updated Tiles Rising Leader Spotlight (4)
Updated Tiles Rising Leader Spotlight (3)
Updated Tiles Rising Leader Spotlight (2)

About the Rising Leader Program

Rising Leaders, a joint AmCham-US Embassy initiative, brings together entrepreneurs, young professionals, and student leaders in an innovative program to promote diversity and connect promising talent. Through the program, participants engage international business leaders, learn about AmCham member companies, explore careers, and gain business and leadership skills.

The 2020-21 Rising Leaders class – comprised of 17 women and 10 men between the ages of 23 and 35 – bring with them experience from healthcare, classical music, urban planning, organizational psychology, immigration, engineering, communications, technology, teaching, economics, finance, and marketing. All 27 program participants have demonstrated leadership, entrepreneurial, and/or business excellence in their educational pursuits and careers thus far.

For more information about the program, or to learn how your organization can get involved, please contact Madeleine Brekke.

Past Rising Leader Events

Rising Leaders Afterwork with PortalOne

January 3, 2023 No Comments

For the last afterwork of 2022 and the program finale, Rising Leaders participants and AmCham members had the opportunity to visit hybrid gaming company and Norwegian unicorn, PortalOne’s brand new offices at Aker Brygge.

Read More »

AmCham Sustainability Forum: Post-COVID Trends & Norwegian Solutions in the US

AmCham News

AmCham Sustainability Forum: Post-Covid Trends & Norwegian Solutions in the US

Focusing on evolving sustainable business trends, risks and opportunities, the first  Sustainability Forum of the year opened with Kruse Larsen Senior Advisor Anne Therese Gullberg. Thereafter, GIEK Senior Vice President of Clean Technologies Ute Borghardt demonstrated how Norwegian companies can increasingly export ground-breaking Norwegian environmental and renewable technologies to the US.

 

Presenters

Anne Therese Gullberg – Senior Advisor 

Ute Borghardt  – Senior Vice President of Clean Technologies

In Alliance for Green Recovery

Gullberg, a former researcher at the Center for International Climate Research (CICERO), opened the session by describing how the importance of sustainability had evolved since the outbreak of the pandemic. Focused measures for sustainability, such as The United Nations (UN) Sustainable Development Goals and The European Green Deal, have laid the foundation for applied sustainability across industries. The focus on sustainability has not lessened since the onset of the pandemic, but has rather acted as a catalyst for accelerating existing trends that include digitalization and a sharp increase in sustainable investments. Despite unprecedented uncertainty, politicians, businesses, trade unions and policymakers have gathered in an alliance for green recovery, calling for progressive global climate policies.

Gullberg went on to describe how sustainability has become an integral part of strategies and processes in both business and politics. In addition, the scope of sustainability is broad, encompassing nature, biodiversity, resource management, and a circular economy. Social sustainability and environmental justice are also high on the agenda, particularly in Europe and the US.

Another trend Gullberg presented was that regulations pertaining to sustainability are becoming increasingly detailed and ambitious, and less predictable, leading to an increased risk for businesses. Regulatory processes can, however, offer significant opportunities to contribute and impact. Gullberg emphasizing, “The rules of tomorrow are written today.”

 

Sustainability as a Competitive Advantage

In Norway, there is a national framework that facilitates foreign purchases of Norwegian capital goods and services. Norway’s Export Credit Agency is constituted by GIEK (The Norwegian Export Credit Guarantee Agency) and Export Credit Norway (ECN), whose overall mandate is to promote Norwegian exports.

To illustrate GIEK’s success in exporting Norwegian environmental technologies solutions to the US, Borghardt presented Asker-based Cambi ASA, which by utilizing thermal hydrolysis technology, turns sewage sludge and organic waste into energy, biogas, and products. This technology was purchased by both the Washington Suburban Sanatory Commission and the Neuse River Resource Facility in North Carolina. According to Borghardt, GIEK’s role as guarantor was vital for the realization of the project since the parties were dependent upon GIEK’s risk-capacity.

Borghardt went on to explain the framework within which GIEK operates, listing sector specific initiatives, global initiatives, and international requirements, in addition to their mandate as defined by The Ministry of Trade, Industry and Fisheries. Echoing Gullberg’s statement about increased focus on social sustainability, Borghardt also referenced GIEK’s focus on human and labor rights.

As part of due diligence, partnering companies are assessed by GIEK in accordance with a set of sustainable criteria. According to Borghardt, businesses are becoming increasingly aware that compliance with these criteria presents a competitive advantage in the marketplace and urges companies to strive for sustainable solutions.

The AmCham Sustainability Forum

Future success is dependent upon running a sustainable business – for people, planet, and profit. Hence, AmCham brings select, cross-industry member company representatives together on an ongoing basis to discuss opportunities, facilitate open exchange and determine how AmCham members can best contribute to Norwegian and US sustainability agendas going forward.

Read more about our Sustainability Forum and please contact Margrethe.Harboe@amcham.no for interest in future meetings.

DNV GL Acquires CA-based Engineering Consultancy ERS, Inc.

Business News

OAKLAND, CA, United States – DNV GL has acquired U.S. based engineering consultancy Energy and Resource Solutions, Inc. (ERS), which helps organisations to manage and reduce energy costs through program design, outreach, implementation and evaluation services.

The growing need to transform energy markets across all sectors and decarbonize energy supply make this acquisition both timely and crucial. The combination of the two companies’ expertise and services creates a unified team that will partner with global customers to address and accelerate the energy transition.

Read full article