Shell Plc has ditched plans to build a low-carbon hydrogen plant on Norway’s west coast due to a lack of demand, Reuters reported on Monday. “We haven’t seen the market for blue hydrogen materialize and decided not to progress the project,” a Shell spokesperson has told Reuters. Shell’s announcement comes …
Read More »Europe’s Gas Supply Tightens as Norway Begins Field Maintenance
Europe is facing a tighter gas market as Norwegian field operators enter scheduled maintenance season. Any unplanned extension of the maintenance period would cause an imbalance on gas markets on the continent and leas to price rises, Bloomberg reported. “Europe is already struggling,” Florence Schmit, a European energy strategist at …
Read More »Equinor Shuts down North Sea Platform
Norway’s Equinor has shut down its Gullfaks C platform in the North Sea following a well control problem that also prompted the evacuation of some workers, Reuters has reported, citing a company spokesman. The spokesman added that production from the field was stable. Even so, the Norwegian gas system operator …
Read More »The Value of Norway’s Oil Fund Soars to New High of $1.7 Trillion
For the first time in its nearly three-decade history, Norway’s oil fund, the world’s largest sovereign wealth fund, has just exceeded the market value of 18 trillion Norwegian crowns, which equals $1.691 trillion as of Wednesday. Government Pension Fund Global, as the Norwegian fund is officially known, was created in …
Read More »Norway to Consider Developing Nuclear Energy
Norway’s government appointed on Friday a committee tasked with considering whether the country should develop nuclear energy as an electricity source. Kristin Halvorsen, a former finance minister and currently director of the Center for International Climate and Environmental Research in Oslo, will lead the committee, which is set to deliver …
Read More »Equinor Bags 2 CO2 Storage Licenses in North Sea
Equinor ASA has been awarded licenses for the development of two new carbon dioxide (CO2) storage areas in the North Sea by the Norwegian Ministry of Energy. Equinor was awarded 100 percent share in each of the two licenses, referred to as Albondigas and Kinno. The new licenses are important …
Read More »Norway’s Oil Demand hasn’t Crashed despite Record EV Market Share
The fact that a record 90% share of all new car sales in Norway are electric has failed to make any impact on the country’s oil demand, indicating that hopes of rising EV uptake making an immediate dent in global oil demand are unrealistic. Last year, 82.4% of all new …
Read More »Norway Oil and Gas Output up in March
Norway produced 2.1 million barrels of petroleum, natural gas liquids (NGLs) and condensate per day last month, up from the prior month and the corresponding period a year ago, the Norwegian Offshore Directorate has reported. The figure exceeded the forecast by 2.4 percent, the report showed. Daily oil output averaged …
Read More »Norway’s Ambitious Plan to Store Carbon Dioxide in the North Sea
Norway has big plans to pump waste carbon from oil and gas operations and heavy industry under the seabed of the North Sea to be stored safely underground. It believes this method will be key to decarbonizing its fossil fuel activities in the coming years and supporting a green transition. …
Read More »Norway’s Energy Major Equinor Starts up Solar Plant in Brazil
Equinor has put into operation a 531-megawatt solar plant in Brazil, which boosts its power production in the South American country by 30%, the Norwegian major said on Friday. The 531-MW Mendubim solar plant will produce 1.2 terawatts per hour (TWh) of power annually, of which some 60% will be …
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