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Norway Renames Oil and Energy Department to Reflect Green Shift
Category: Business News
Norway’s oil and energy ministry will streamline its name as the country looks beyond the hydrocarbons that today account for about a quarter of gross domestic product. From Jan. 1, Terje Aasland will take the new title of Energy Minister, the government said Monday, adding that the role of the ministry remains unchanged. The department […]
Source: Bloomberg
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Baker Hughes wins contracts from Vår Energi for work offshore Norway
Category: Business News
Baker Hughes announced two awards from Vår Energi that expand its regional presence in the North Sea for exploration logging, well intervention technology and subsea production systems.
Source: World Oil
Published: May 10, 2025
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Equinor acquires stake in Bayou Bend CCS Project
Category: Business News
Equinor has acquired a 25 percent interest in Bayou Bend CCS LLC, positioned to be one of the largest US carbon capture and storage projects located along the Gulf Coast in Southeast Texas. “Commercial CCS solutions are critical for hard-to-abate industries to meet their climate ambitions while maintaining their activity. Entering Bayou Bend strengthens our […]
Source: Equinor
Published: May 10, 2025
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Exxon CEO Tells Europe to Follow US Approach to Climate Action
Category: Business News
European leaders looking to tackle climate change should look to US policy and “let the market work” to avoid driving companies away with prescriptive regulations, Exxon Mobil Corp. Chief Executive Officer Darren Woods said. “I think it’s a huge mistake to be picking winners and losers and focusing on specific technologies,” Woods told the CEO Norway’s […]
Source: Bloomberg
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But with title Clean Energy Sector Debates Impact of GOP Efforts to Repeal IRA Tax Credits
Category: Business News
Republican attacks on the Inflation Reduction Act’s clean energy tax credits may be negatively impacting the sector, some industry players and experts say. They say the GOP’s efforts to eliminate the subsides risks creating uncertainty for investments — especially with potential financial backers nervously looking ahead to next year’s elections. “It definitely creates uncertainty […]
Source: The Hill
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