NEWS

Bloomberg: Norway to Rein In Wind Power After Raging Opposition From Locals

Category: Business News

Norway is set to tighten rules for building wind turbines, caving in to massive protests from locals. A government proposal on Friday to slow down the development of onshore wind power comes after increasing local resistance mirrors sentiment in other European countries. Norway already decided to scrap a plan for a new permission framework last year. Norway, […]

Source: Bloomberg

JPT: Equinor Subsea Shuttle Concept Brings CO2 to Subsea Reservoirs

Category: Business News

CO2 sequestration today is almost exclusively an onshore operation, involving networks of pipelines, compressors, and teams of personnel to oversee it all. In a newly released video, Equinor has proposed another idea: a fleet of electrically-powered submarines that will carry CO2 to subsea injection sites autonomously. Each of these “subsea shuttles” would be 135 m (443 ft) long, […]

Source: JPT

World Oil: Neodrill and Baker Hughes complete industry’s first cut and recover operation in the Norwegian Sea

Category: Business News

STAVANGER – Neodrill and Baker Hughes announced completion of the world’s first cut and recover operation for Wintershall Dea Norge in the Norwegian Sea. Rig time was reduced by an estimated 12 hours, with work to cut the surface casing moved off the critical path of the rig schedule. The project enabled the rig to […]

Source: World Oil

Published: June 1, 2020

Bloomberg: A Floating Hoard of North Sea Oil Is Starting to Diminish

Category: Business News

A glut of benchmark North Sea oil that’s been sitting on ocean-going tankers for weeks is starting to diminish. Millions of barrels of the region’s unwanted crude have been stashed on oil tankers since the coronavirus caused a demand collapse. But now the volumes are starting to shrink sharply, data compiled by Bloomberg show. Anchored […]

Source: Bloomberg

Published: June 10, 2020

Reuters: Norway oil firms slash investment plans amid pandemic

Category: Business News

OSLO (Reuters) – 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 statistics agency (SSB) showed on Thursday. The biggest drop will come in the exploration for new reserves and in spending on development […]

Source: Reuters

Published: June 4, 2020