Tag Archives: USA

US News: Norway Named World’s Top Performing Country in Clean Energy Innovation

The top performing country in the world in the field of contributions to global clean energy innovation is Norway, followed closely by Finland and Japan, according to a recent report published by the Information Technology and Innovation Foundation, a nonprofit public policy think tank based in Washington, D.C.

The United States ranked No. 4 in the ITIF report. Other countries in the top 10: FranceCanadaGermanySouth Korea, the United Kingdom and Denmark.

Read entire article HERE.

Bloomberg: Norway’s Fund Wants to Add Up to $100 Billion in U.S. Stocks

Norway’s wealth fund proposed overhauling its global holdings, calling for a shift away from Europe in a move that would allow it to boost its U.S. stock investments by as much $100 billion and take a larger chunk of the biggest technology companies.

In a letter sent to the Finance Ministry released on Tuesday, the $1 trillion fund recommended that its investments “be adjusted further towards float-adjusted market weights by increasing the weight of equities in North America and reducing the weight of equities in European developed markets.”

The response comes after the ministry last year asked the fund to review the geographical weighting that had been in place since 2012. The ministry on Tuesday said it would present its response in the “spring of 2020” and that any changes would be implemented gradually.

Read entire article HERE.

E24: DNB Markets tror USA øker Kina-toll til 25 prosent

Amerikanske myndigheter kunngjorde tirsdag at en del importvarer verdt rundt 160 milliarder dollar fra Kina blir unntatt ytterligere toll frem til 15. desember.

DNB Markets venter imidlertid fortsatt en videre eskalering av tollen.

Valutastrateg Magne Østnor påpeker i en oppdatering at utsettelsen er et tydelig tegn på at Donald Trump er under press, selv om han har hevdet at økte tollsatser kun rammer kineserne.

Les hele saken HER.

E24: Equinors milliardkjøp i Mexicogolfen er gjennomført

Equinor opplyste i mai at de har utøvd en fortrinnsrett til å kjøpe ytterligere 22,45 prosent av oljefeltet Caesar Tonga i den amerikanske delen av Mexicogolfen.

Andelen er kjøpt av Shell for 965 millioner dollar (8,7 milliarder kroner med dagens kurs).

Nå melder Equinor at avtalen har blitt godkjent av det amerikanske myndighetsorganet Bureau of Ocean Energy Management, og at kjøpet er gjennomført.

Lese hele saken HER.

World Oil: ExxonMobil to invest up to $100 million on lower-emissions R&D with U.S. national labs

IRVING — ExxonMobil has said it will invest up to $100 million over 10 years to research and develop advanced lower-emissions technologies with the U.S. Department of Energy’s National Renewable Energy Laboratory and National Energy Technology Laboratory. 

The agreement – among the largest between the department’s laboratories and the private sector – will support research and collaboration into ways to bring biofuels and carbon capture and storage to commercial scale across the transportation, power generation and industrial sectors.

“We’re focusing on advancing fundamental science to develop breakthrough solutions that can make a difference on a global basis in emissions reduction,” said Darren W. Woods, chairman and CEO of ExxonMobil. “We’re doing that with our in-house scientists and with corporate partners, through relationships with 80 universities and now with the intellectual and computing capacity of the renowned national labs.”

Gallup 2019 Report: Rating World Leaders

Do you approve or disapprove of the job performance of the leadership of the United States? Discover how the world views US leadership versus the leadership of Germany, China and Russia.

Results are based on face-to-face and telephone interviews with approximately 1,000 adults, aged 15 and older, in each country or area. Between March and December 2018, residents were asked to rate US, German and Russian leadership in 133 countries or areas, and residents in 134 countries or areas were asked to rate the leadership of China.

Download the report HERE.

World Oil: DNV GL extends the capability of failure investigations with new Houston facility

HOUSTON — DNV GL has opened a failure analysis facility in Houston, Texas which will provide failure analyses that support the industry in conducting effective and efficient root cause analyses. The aim is to prevent and learn from failures and continue to improve safety, reliability and up-time.

The facility will carry out the crucial initial steps of a failure investigation, which could include visual inspection, non-destructive testing [NDT], disassembly, cutting of components, etc. The facility will interact seamlessly with DNV GL’s large and very experienced team of experts in Columbus, OH who are able to carry out further analyses, which may include metallography, fractography (scanning electron microscopy), mechanical testing, chemical analysis, etc. as well as draw on experience from several 1,000 failure analyses carried out in DNV GL’s network of failure labs in the US, Norway, Singapore, The Netherlands and the UK.

Read entire article HERE.

World Oil: Staale Gjervik on New ExxonMobil / Microsoft Digital Partnership

IRVING, Texas — ExxonMobil has announced that a new partnership with Microsoft will make its Permian basin operations the largest-ever oil and gas acreage to use cloud technology and is expected to generate billions in net cash flow over the next decade through improvements in analyses and enhancements to operational efficiencies.

“The combination of Microsoft’s technologies with our unique strengths in oilfield technologies, production efficiency and integration will help drive growth in the Permian and serve as a model for additional implementation across the U.S. and abroad,” said Staale Gjervik, senior V.P., Permian Integrated Development for XTO. “The unconventional business is fast moving, complex and data rich, which makes it well suited for the application of digital technologies to strengthen our operations and help deliver greater value.”

Read entire article HERE.

Reuters: Five companies, including Equinor, bid to supply New York with offshore wind power

Five companies, including Norway’s Equinor, Denmark’s Orsted and France’s EDF have submitted bids to supply offshore wind power to the New York state, the companies said on Thursday.

New York state closed bidding on.ny.gov/2E54m5q on Thursday to provide 800-megawatts of offshore wind energy, a part of a plan develop up to 2,400 megawatts (MW) of offshore wind power by 2030, and will choose a supplier in the spring.

Equinor is planning to build a wind park on 80,000 acres south of Long Island it won in a U.S. federal auction in 2016, with potential total capacity of up to 2,000 MW, in push to diversify its investments away from oil and gas.

Read entire article HERE.

World Oil: Equinor increases 2018 earnings, eyes offshore U.S.

STAVANGER — “Strong operational performance and high production gave solid results and cash flow in a quarter with significant market volatility. We delivered growing returns for the full year and expect continued earnings growth. Following strong improvements in recent years, the board proposes an increase in quarterly dividend of 13% to $0.26 per share,” says Eldar Sætre, president and CEO of Equinor ASA.

“Our cash flow generation was strong across the business. At an average oil price of $71/bbl, we generated an organic free cash flow well above $6 billion for the full year. We have also done several value-enhancing transactions, strengthened our financial position and reduced our net debt ratio from 29% to 22.2%,” says Sætre.

Adjusted earnings were $4.4 billion in the fourth quarter, up from $4 billion in the same period in 2017. Adjusted earnings after tax were $1.5 billion, up from $1.3 billion in the same period last year. High production at higher prices contributed to the increase. Due to sales pricing mechanisms in the market, the significant fall in oil prices led to a negative one-off effect with a higher than normal differential between realised liquids prices and Brent Blend average. In addition, higher exploration activity and lower refinery and products trading margins impacted adjusted earnings negatively. For the full year, adjusted earnings were $18 billion, up 42% from $12.6 billion in 2017.

Read entire article HERE.