Tag: norway

Faroe Petroleum in asset swap deal with Equinor

Faroe Petroleum in asset swap deal with Equinor

British firm Faroe Petroleum, which was subject to a hostile bid by DNO, has agreed a deal that will see it swap oil and gas assets with Norwegian state-owned company, Equinor. The non-cash deal will enhance Faroe’s output and cash flow while securing Equinor’s stakes in fields located in the […]

Norway ends ban on Cairn and Kosmos investments

Norway ends ban on Cairn and Kosmos investments

Norway has reversed its decision to exclude oil and gas producers Cairn Energy and Kosmos Energy from its investment portfolio after they ceased controversial operations off West Africa. In 2016 the world’s biggest sovereign wealth fund banned Cairn and Kosmos from its energy portfolio, which it once held a 2.85pc […]

Equinor to lead North Sea output

Equinor to lead North Sea output

Norway’s Equinor will lead production in the North Sea over the coming seven years a new report by GlobalData has discovered. The report that focused on the North Sea area including the UK, Norway, Denmark and the Netherlands found Equinor will be leading a number of big projects due to […]

Supply from Norwegian gasfields cut for up to four weeks

Supply from Norwegian gasfields cut for up to four weeks

Unexpected works on Norwegian fields and systems will cut the country’s output for up to four weeks, which traders expect will have a knock-on effect on European natural gas prices. Norwegian gas operator Gassco said that two unplanned events could impact day-ahead and within-day supplies for as long as four […]

Norway should retain oil stocks

Norway should retain oil stocks

A new government commissioned report, that assessed whether the world’s largest sovereign wealth fund, has found that Norway’s $1 trillion fund should maintain its oil and gas shares. Although the centre right government is not obliged to follow the advice of the report, it is set to give its own […]

Norway strike ends

Norway strike ends

The Safe union has confirmed the recent strike action has been brought to a close after an agreement was reached with employers. The dispute between the union and the Norwegian Shipowners’ Association began last week and escalated after six days after the employers failed to meet the demands of Safe, […]

Norwegian strikes escalate

Norwegian strikes escalate

Norway’s Safe oil and gas union is stepping up its strike efforts, that have lasted six days, after employers failed to respond to demands. According to Reuters news agency, the union is increasing the scale of the strikes by 900 people after the Norwegian Shipowners’ Association did not respond to […]

Norwegian oil and gas workers to strike

Norwegian oil and gas workers to strike

More than six hundred Norwegian offshore oil and gas rig workers will go on strike on Tuesday, after rejecting a wage deal previously out forward, impacting output of at least one field – Shell’s Knarr. Shortly after the midnight deadline, mediator Carl Petter Martinsen said discussions between trade unions, Safe […]