NEWS

Shipping & Offshore

Statoil Greenlights Key $6 Billion Norway Arctic Oil Project

Business

Category: Energy

Statoil ASA gave the final go-ahead to a flagship Arctic oil project after slashing costs by half. While expected, the move by Norway’s biggest oil company is a boost to a region seen as key to arresting a decline in the country’s production. In a striking illustration of how oil companies have adapted to lower prices, […]

Source: Bloomberg


More

Norway Oil Bosses Insist End Isn’t Nigh After $35 Billion Shock

Business

Category: Energy

Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future? After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible.  But the mood is shifting. […]

Source: Bloomberg


More

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


More

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


More

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


More
Page 14 of 15
1 11 12 13 14 15