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(Reuters) Wintershall Dea on Monday reported that its third-quarter net profit slumped 86% year-on-year due to weaker oil and gas prices, unplanned maintenance outages in Norway and the costly loss of Russian business. The company's earnings showed that adjusted net income totalled 61 million euros ($64.4 million) in the three months to September, compared with... Continue Reading →
(Reuters) Norwegian energy firm Equinor will submit a proposal to pre-qualify for Norway's first offshore wind auction, the company's CEO Anders Opedal told Reuters last Friday. Equinor has formed a consortium with Germany's RWE for Soerlige Nordsjoe II, an area in shallower waters close to the maritime border with Denmark, where Norway is offering 1.5 gigawatts (GW)... Continue Reading →
(OW) Vindkraft Värmland and Njordr, the Nordic developer, have sold 100 per cent of the shares in the joint company, Njordr Offshore Wind (NOW), to Statkraft. NOW holds a pre-permit portfolio of nine offshore wind projects in the Swedish economic zone with a total potential for up to 21 GW of installed capacity. The portfolio... Continue Reading →
(Reuters) - Equinor (EQNR.OL) on Friday beat third-quarter profit expectations on strong energy trading and said it had overcome disruptions that hampered oil and gas output, boosting its shares. The Norwegian energy producer lowered its 2023 forecast for oil and natural gas output to 1.5% growth from 3% but said this was caused by extensive maintenance that... Continue Reading →
(OE) Boards of directors of the Norwegian seismic data companies PGS and TGS have unanimously approved and decided upon a definitive merger agreement of the two firms, in line with the terms announced in September.The merger is to be structured as a statutory, triangular merger between TGS Newco AS, a newly established wholly owned subsidiary of... Continue Reading →
(OET) Solstad Shipholding, a subsidiary of Solstad Offshore, has reached an agreement with Aker, via its wholly owned subsidiary Aker Capital, AMSC, DNB Bank and Export Finance Norway (Eksfin) for an overall refinancing solution which will create a robust industrial platform going forward. Solstad has, together with Aker, developed and negotiated NOK 9.7 billion (almost... Continue Reading →
(OET) China Merchant Heavy Industries (CMHI) has contracted Norway-headquartered TMC Compressors to deliver the completed marine compressed air system for a newbuild FPSO the Chinese yard is constructing for Dutch FPSO operator SBM Offshore. Under the contract whose value remains undisclosed, TMC will provide a large-capacity marine compressed air system, including compressors for control and... Continue Reading →
(OE) Norwegian ports investing in offshore wind can generate NOK 8.4 billion (currently ~766 million) in annual value and employ approximately 6,400 people by 2030, a new report from Menon Economics has found. The report was commissioned by Norwegian Offshore Wind, Eksfin, Invest in Rogaland, Invest in Bergen, and Invest in Agder. The study... Continue Reading →
(YP) Petrobras is looking to strengthen its partnership with Norwegian companies on energy transition. The move comes as Brazil seeks to reduce its greenhouse gas emissions and achieve net-zero emissions by 2050. In a recent announcement during the event "The Role of Norway and Brazil in the Energy Transition" organized by the Brazil-Norway Chamber of... Continue Reading →
(OM) RenewableUK says the total number of floating offshore wind projects has increased over the past year from 230 to 285. The association’s latest EnergyPulse Insights report also found that 227 MW of floating offshore wind are fully operational across 14 projects in seven countries. Norway leads with 94 MW across three projects, followed by... Continue Reading →
Brazil Energy Insight 