Norway – Page 2 – Oil & Gas 360

Norway supreme court verdict opens Arctic to more oil drilling

December 22, 2020

Reuters OSLO – Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment. While most of Norway’s oil output flows from south of the Arctic, the government believes the greatest untapped potential lies in the Barents Sea off Europe’s northernmost coast. Tuesday’s verdict

Norway’s top court starts hearing on Arctic oil exploration

November 4, 2020

Reuters OSLO – Norway’s top court began to hear arguments on Wednesday on the legality of awarding offshore oil licenses in the Arctic, in a landmark case that could stop the industry’s expansion. The lawsuit, led by environmental groups Greenpeace Norway and Nature and Youth, is part of an emerging branch of law worldwide where plaintiffs seek to use a

Six Norway oil and gas fields shut as strike escalates

October 5, 2020

Reuters OSLO – Six Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay, companies and union officials said. The strike will cut Norway’s total output capacity by just over 330,000 barrels of oil equivalent per day, or about 8% of total production, according to the Norwegian Oil and Gas Association (NOG).

Norway oil strike escalation could affect production from six fields: NOG

October 2, 2020

Reuters OSLO – The escalation of a strike among offshore oil workers in Norway could affect production from six fields with total output of 330,000 barrels of oil equivalent per day (boepd), the Norwegian Oil and Gas Association (NOG) said on Friday. Norway’s Lederne labour union said on Wednesday it would escalate action from midnight Oct. 4 after dozens of

Norway parliament grants more tax relief to oil sector

June 8, 2020

Reuters OSLO – Norway’s parliament has agreed additional tax breaks for the oil industry on top of those proposed by the minority government to spur investment and protect jobs, the ruling Conservative Party said on Monday. Equinor and other companies hit by low crude prices as the COVID-19 pandemic has destroyed demand, had said the government’s plan to postpone tax

Norway says it may cut oil output if OPEC+ deal implemented

April 10, 2020

Reuters OSLO – Norway, Western Europe’s largest oil producer, signalled on Friday it could cut its output if the deal negotiated by the so-called OPEC+ nations was implemented as planned. Norway’s Minister of Petroleum and Energy Tina Bru is taking part in Friday’s G20 video conference to discuss the situation in the energy market after demand and prices were hammered

Next-day natural gas prices at the Waha hub in the Permian basin in West Texas fell below zero for the first time since early April.- Oil & Gas 360

Equinor Site Remains Shut In Following Drilling Rig Fire in Karnes County

August 26, 2019

From The Houston Chronicle A natural gas well belonging to the Norwegian oil giant Equinor remains shut in following a weekend fire at one of its drilling sites in Karnes County. The fire happened at Equinor’s Neller-Runge 1-Runge 2 lease off FM 885 a few miles south of Runge around 3:45 a.m. Saturday, the Karnes County Sheriff’s Office reported. Crews

Borr Drilling Goes Public

July 29, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling Limited launches IPO of five million common shares Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has launched an initial public offering (IPO) in the United States for 5 million of its common shares. The newly public security will trade under the ticker symbol “BORR.”

Equinor Trades Up to Boost Interest in Johan Sverdrup Field

July 8, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Equinor swaps 16% stake in Lundin for $1.5 billion, buys 2.6% stake in Johan Sverdrup field on Norwegian continental shelf for $910 million Norwegian supermajor Equinor ASA (stock ticker: EQNR) has struck a deal with independent E&P Lundin Petroleum (stock ticker: LUPE.ST) to divest its 16% interest in Lundin, which equates

Fear Grips Norway’s Oil Industry as Political Risk Explodes

April 12, 2019

From Bloomberg Oil companies in Norway may pay some of the highest taxes and wages in the world but they could always count on support in the halls of power. Then last week the country’s biggest political party pulled out the rug from under that certainty in a dramatic policy shift to abandon support for drilling off the Lofoten islands.

SeaLegacy, a coalition of Norwegian NGOs, and Labour Party leaders, Norway commits to permanently protect the Lofoten, Vesterålen, and Senja islands in the Norwegian Arctic from oil drillin Oil & Gas 360

Labour Party of Norway Commits to Permanently Banning Oil Exploration in Norwegian Arctic

April 8, 2019

Labour Party of Norway Commits to Permanently Banning Oil Exploration in Norwegian Arctic

Lundin Plans $747 Million Oilfield Development in Norway

March 27, 2019

From Reuters Lundin Petroleum announced plans on Wednesday develop its Solveig oilfield, formerly known as Luno II, offshore Norway at a cost of 6.4 billion Norwegian crowns ($747 million). The development and operation plan for the North Sea field called for a production startup of in the first quarter of 2021, the Swedish company said. The new field will be

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