Tag Archives: Norway

Norway will beef up its security at its oil and gas installations after three explosions rocked the Nord stream 1 & 2 pipelines, the country’s oil and energy minister said on Tuesday. Germany’s economy minister also offered words of strength on Tuesday, saying that it knows how to—and can—defend its …

Norway plans to maintain its currently high gas production levels until the end of the decade as Europe plans to reduce Russian imports, its energy minister said on Tuesday. The Nordic country is now Europe’s biggest supplier of gas, according to Refinitiv Eikon data, overtaking Russia, which has cut back …

Norway’s $1.3 trillion sovereign wealth fund posted its biggest loss on record as rate hikes, surging inflation and Russia’s invasion of Ukraine spurred volatility. The Oslo-based fund, the world’s biggest, lost 14.4% in the six months through June. The loss of $174 billion was the fund’s biggest ever in currency …

Norway’s exports reached a record in July, driven mainly by natural gas prices that have soared since Russia’s invasion of Ukraine. The Scandinavian country’s statistics agency on Monday said Norwegian exports reached 229 billion kroner (US$24 billion) last month, 0.4 per cent higher than the previous record set in March …

Norway may soon introduce a rule to reduce its vast electricity exports if levels at reservoirs for hydropower generation drop to critically low levels in a bid to prevent power shortages and further rises in energy bills domestically. Norway’s Energy Minister Terje Aasland told Norwegian media, as quoted by Bloomberg, …

After Norway’s state-owned giant Equinor decided to exercise its option to add more wells to the backlog of an Odfjell Drilling-owned rig, this rig now has eight more wells to drill for the Norwegian company. Back in May 2021, Odfjell Drilling and Equinor inked a deal for the Deepsea Stavanger …

Norway approved plans on Friday for three gas field developments that will further increase production from the Norwegian Continental Shelf in the short to medium term. The move comes days after Norway’s authorities approved applications from operators to boost production from several operating gas fields, the Norwegian Ministry of Petroleum …

On behalf of its partners in the Bacalhau oil field, Equinor Brasil has awarded Valaris a 540-day drilling contract to commence in 2023. The Valaris DS-17 drillship will be used to drill an appraisal well, cap a former exploration well and conduct additional drilling scope work in Brazil. It is …

Norwegian offshore workers have begun a strike that will reduce oil and gas output, according to the union leading the industrial action. The strike, in which workers are demanding wage increases to compensate for rising inflation, came on Tuesday amid high oil and gas prices, with supplies of natural gas …

The Norwegian Petroleum Directorate (NPD) has announced a minor gas discovery southwest of the Skarv field in the Norwegian Sea at wildcat well 6507/4-3 S. Preliminary estimates indicate the size of the discovery, which is operated by ConocoPhillips Skandinavia AS, is less than 0.1 million standard cubic meters of recoverable …