(Equinor, 23.Oct.2024) — Equinor delivered adjusted operating income* of $6.89bn and $2.04bn after tax in the third quarter of 2024. Equinor reported net operating income of $6.91bn and net income at $2.29bn. Adjusted net income* was $2.19bn, leading to adjusted earnings per share* of $0.79. Financial and operational performance Strategic […]
Category: Norway
Norway
Smoke Development on the Sleipner B Platform
(Equinor, 22.Oct.2024) — Equinor announced that the emergency vessels Skandi Mongstad and Esvagt Bergen have used seawater to cool down the Sleipner platform from a distance during the day. The vessels will remain stationed outside the unmanned Sleipner B platform and monitor the situation for as long as necessary. A […]
Equinor’s 3Q:24 Safety Results
(Equinor, 17.Oct.2024) — Equinor’s overall long-term safety trend continues to move in a positive direction, but the total number of injuries has increased somewhat by the end of the third quarter, measured over the previous twelve months. At the end of the third quarter of 2024 the serious incident frequency […]
Equinor Buys 9.8% Minority Stake in Ørsted
(Equinor, 7.Oct.2024) — The transaction establishes Equinor as the second largest shareholder in Ørsted, after the Danish State, which holds a controlling stake in the company. “Equinor has a long-term perspective and will be a supportive owner in Ørsted. This is a counter-cyclical investment in a leading developer, and a […]
Winter is Coming in Europe as Geopolitical Risks Rise: Rystad EnergyÂ
(Rystad, 4.Oct.2024) — Here is Rystad Energy’s gas and LNG market update from analyst, Christoph Halser: “Norway concludes its gas maintenance season with some disruptions, while hurricanes add further risks to U.S. supply. This comes at an untimely moment, as cold temperatures across Europe are expected to cause a short-term […]
EAI’s NRGBriefs: Sep. 2024
(Energy Analytics Institute, 30.Sep.2024) — Energy briefs as well as others related to finance and projects during Sep. 2024 including Petrobras inking separate MOUs with its Argentine and Surinamese counterparts YPF and Staatsolie; TechnipFMC being awarded two subsea contracts by Petrobras; CNOOC Limited saying the Shenhai-1 Phase II Natural Gas Development […]
Northern Lights Ready to Receive CO2
(Equinor, 26.Sep.2024) — On 26 Sep. 2024 the Norwegian Minister of Energy conducts the official opening of the Northern Lights CO2 transport and storage facility in Øygarden, near Bergen. The Northern Lights facility is a joint venture between Equinor, Shell and TotalEnergies. “The completion of the Northern Lights facility marks an […]
Northern Lights Completion World’s First Commercial CO2 Transport and Storage Service
(Northern Lights, 26.Sep.2024) — Northern Lights JV unveiled the completed CO2 receiving facilities in Øygarden, Norway. The onshore and offshore infrastructure has been delivered on time for customers and within budget and is now ready to receive CO2 from Norwegian and European industry. Northern Lights is the first to offer […]
Northern Lights Facilities Finished, Ready to Store CO2
(TotalEnergies, 26.Sep.2024) — TotalEnergies and its partners, Equinor and Shell, announce the completion of the CO2 receiving and storage facilities of Northern Lights Joint-Venture in Norway. The facilities consist in a terminal that will receive CO2 cargos, a 100 km subsea pipeline for CO2 transportation to the offshore storage location, […]
Johan Castberg Anchored in the Barents Sea
(Equinor, 17.Sep.2024) — The floating production, storage and offloading vessel (FPSO) is now securely anchored on the Johan Castberg field in the Barents Sea. The hook-up of the FPSO to the subsea facilities, preparing it for production start-up towards the end of the year, will now start. “This is an […]
Höegh LNG Changes Name to Höegh Evi
(Höegh LNG, 16.Sep.2024) — Höegh LNG has changed its name to Höegh Evi.  Standing for “energy vector infrastructure,” the name Evi reflects the recent expansion of our focus beyond LNG import terminals to encompass innovative and tangible clean energy solutions. As a leader in liquefied gas handling, Höegh Evi is accelerating the […]
Reducing Emissions from the Troll Field
Equinor, 11.Sep.2024) — On Saturday, 7 Sep. 2024, Troll B and C became partly powered from shore. This reduces annual emissions from the Norwegian continental shelf (NCS) by 250,000 tonnes of CO2. This is in line with the plan for development and operation (PDO) for Troll West electrification (TWEL), which […]
BW Limited on Ex-Dividend Trading
(Energy Analytics Institute, 9.Sep.2024) — BW LPG Limited will be traded ex-dividend on the Oslo Stock Exchange from 9 Sep. 2024 and from 10 Sep. on the New York Stock Exchange (NYSE), the company said 9 Sep. in an official statement. ____________________ By Energy Analytics Institute staff. © Energy Analytics Institute […]
Increased Ripple Effects from Equinor in Norway
(Equinor, 28.Aug.2024) — A new report shows that deliveries for exploration, development projects and operation of Equinor-operated fields and onshore facilities in Norway had a value of more than NOK 134 billion in 2023, 94 per cent of which were invoiced by Norwegian suppliers. Equinor plans to maintain its oil and […]
Rising Energy Demand, Underinvestment Jeopardise Global Energy, IGU SaysÂ
(IGU, 27.Aug.2024) —The International Gas Union (IGU), Snam and knowledge partner Rystad Energy, are releasing the 2024 Global Gas Report (GGR) at the ONS Conference. Global gas markets stay in fragile equilibrium, with limited supply growth as demand rises steadily, up by 1.5% in 2023, with an expected acceleration to 2.1% by the end of 2024. Asia […]
Strengthening Emergency Preparedness in the Barents Sea
(Equinor, 27.Aug.2024) — Equinor will establish and operate a new area-wide emergency preparedness solution for the southwestern Barents Sea. The solution will add new resources, expertise and capabilities that will strengthen safety and emergency preparedness in this ocean area. “Safety is our number one priority, we must have a good emergency […]
Equinor to Use World’s First Ammonia-powered Supply Vessel
(Equinor, 26.Aug.2024) — Equinor has signed a contract with Eidesvik Offshore for the conversion of the Viking Energy supply vessel to ammonia operation. The vessel will be fully converted and put into operation with low emissions in 2026. The vessel supplies Equinor’s installations on the Norwegian continental shelf (NCS). Viking Energy […]
Equinor Announces Cash Dividend for 1Q:24
(Equinor, 23.Aug.2024) — Equinor ASA announced on 25 April 2024 an ordinary cash dividend per share of USD 0.35 and an extraordinary cash dividend per share of USD 0.35 for first quarter 2024. The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in […]
Aker Horizons ASA 2Q:24
(Aker, 16.Jul.2024) – Aker Horizons ASA announced results for the second quarter 2024. Aker Horizons’ net capital employed stood at NOK 7.1bn, an increase of NOK 1.9bn from the first quarter, mainly driven by a gain from the Aker Carbon Capture-SLB transaction. The company reported a cash position of NOK 3.1bn and an undrawn credit facility […]
Scientists: Epoch Marked by human impact — the Anthropocene — Began in 1950s
(AP, 11.Jul.2024) — From climate change to species loss and pollution, humans have etched their impact on the Earth with such strength and permanence since the middle of the 20th century that a special team of scientists says a new geologic epoch began then. Called the Anthropocene — and derived […]
Equinor Starts Production from Kristin South
(Equinor, 8.Jul.2024) — Equinor and its partners Petoro, VÃ¥r Energi, and TotalEnergies EP Norge started production from the first Lavrans well in the Kristin South area on 7 July. The partnership submitted the plan for development and operation (PDO) of the Lavrans and Kristin Q discoveries as satellites to the […]
Equinor Bags Two New North Sea CO2 Storage Licenses
(Equinor, 20.Jun.2024) — Equinor has been awarded the operatorships for the development of two new CO2 storages in the North Sea. The new licenses are important building blocks for developing the Norwegian Continental Shelf into a leading area for CO2 storage in Europe. On 20 June, the Ministry of Energy announced the award […]
Equinor and GRTgaz to Develop CO2 Transport Infrastructure in France
(Equinor, 17.Jun.2024) — Equinor and main French gas transmission operator GRTgaz signed a project development agreement (PDA) for a CO2 transport system for captured CO2 from industrial emitters in France to safe and permanent storage offshore Norway via the planned CO2 Highway Europe pipeline project. The development will consist of […]
Kongsberg Maritime to Move Chief Engineer Role to Shore
(Kongsberg, 13.Jun.2024) — Kongsberg Maritime has received Approval in Principle from classification society DNV to enable a key role to be transferred from a ship to a shore-based control centre, marking a significant step in the journey towards uncrewed vessel operations. The move will enable the role of Chief Engineer to […]
Speed and Scale of Energy Transition Must Increase, Equinor Says
(Equinor, 6.Jun.2024) — In 2024, almost half of the world’s population go to the polls. Many elections will demonstrate some of the key trends shaping world politics: geopolitical competition, economic nationalism, and political polarisation. This in turn will impact global energy markets and the progress of the energy transition. Energy […]
Election to Equinor’s Board of Directors
(Equinor, 6.Jun.2024) — In a meeting in the corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) on 4 Jun. 2024 Tone Hegland Bachke and Fernanda Lopes Larsen were elected as new members to the board of directors of Equinor. Furthermore, the corporate assembly re-elected Jon Erik Reinhardsen as chair and Anne Drinkwater […]
Equinor Divests Interests in Gina Krog Area
(Equinor, 4.Jun.2024) — Equinor is selling 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway AS (PGNiG). With this, the ownership between Equinor and PGNiG in these licenses will be balanced with the Gina Krog field. The plan for development […]
Aker Solutions Doubles Down on Consultancy Business, Unveils New Name
(Aker Solutions, 23.May.2024) — Aker Solutions’ consultancy has today announced plans to double its revenues and headcount by 2030 as it introduces its new name, Entr. Entr’s growth is driven by an increased demand for Aker Solutions’ early phase offerings and the need to adapt its services for new and […]
SMA Mineral and Infinium to Advance eFuels Project in Norway
(SMA Mineral, 10.May.2024) — eFuels leader Infinium reached an agreement with SMA Mineral that will advance the development of Infinium’s eFuels project at the Mo Industripark in Mo i Rana, Norway. The Infinium facility will utilize the carbon dioxide (CO2) that SMA will produce at its Zero Emission Quick Lime […]
Bristow Helicopter Involved in Accident
(Bristow, 28.Feb.2024) — Bristow Group Inc. confirmed that one of its search and rescue helicopters, registration LN-OIJ, was involved in an accident at about 19:40 CET approximately nine nautical miles west of Bergen, Norway. The aircraft, which is contracted to a civilian customer, was conducting a training exercise at the […]
Aker ASA Reveals Preliminary Annual Results 2023
(Aker, 20.Feb.2024) — The Net Asset Value (“NAV”) of Aker ASA and holding companies Aker was NOK 63.2bn at the end of the fourth quarter 2023, or NOK 64.3bn before dividends paid, compared to NOK 64.1bn at the end of the third quarter. Aker’s Board proposes to pay a cash […]
Aker BP awarded 27 licenses in APA 2023
(Aker BP, 25.Jan.2024) — The Norwegian authorities are offering Aker BP ownership interest in 27 exploration licenses on the Norwegian continental shelf in the APA 2023 licensing round. For 17 of the licenses Aker BP is also granted operatorship. The award consolidates our position as the most active independent exploration […]
Aker BP and DeepOcean Finish Autonomous Inspection Trials
(DeepOcean, 16.Jan.2024) — DeepOcean and Aker BP successfully completed subsea trials with an Autonomous Inspection Drone (AID) at the Aker BP operated Alvheim field in the central North Sea. “While testing of autonomous technology is exciting on its own, our primary purpose was to find out if subsea inspection can […]
Aker BP 4Q:23 Trading Update
(Aker BP, 15.Jan.2024) — Aker BP (OSE: AKRBP) (OTCQX: AKRBF; AKRBY) announces its preliminary production and sales figures for the fourth quarter 2023. The company’s equity production for the period was 444.3 thousand barrels of oil equivalents per day (mboepd). Net volume sold in the quarter was 466.9 mboepd. For the […]
Kelp Farming Plant to Remove CO2 from the Atmosphere
(Aker BP, 10.Jan.2024) — Aker BP contributes to the establishment of a kelp cultivation plant in the sea off Frøya in Trøndelag. The plant will remove CO2 from the cycle. Already in the summer of 2024, the first kelp will be harvested. SINTEF Ocean will build and operate the kelp […]
Aker Horizons ASA Reports 3Q:23 Results
(Aker Horizons, 2.Nov.2023) — Aker Horizons ASA (OSE: AKH), a developer of green energy and industry, today announced results for the third quarter of 2023. Aker Horizons’ net asset value stood at NOK 10.2bn as of 30 Sep. 2023. The company had a cash position of NOK 3.5bn and an undrawn credit facility of EUR 500mn, giving […]
TotalEnergies Commissions its LNG Floating Terminal in the Port of Le Havre
(TotalEnergies, 26.Oct.2023) — TotalEnergies announces the commissioning of the Cape Ann, its floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) located in the port of Le Havre. The terminal injected its first megawatt-hours (MWh) of gas into the grid operated by GRTgaz, using LNG from Norway. TotalEnergies […]
EAI’s NRGBriefs: Sep. 2023
(Energy Analytics Institute, 30.Sep.2023) — Energy briefs as well as others related to finance and projects during Sep. 2023 including Petrobras saying that in regards the process of divestment of the LUBNOR refinery that it continues to strictly comply w/ the purchase and sale agreement; SilverCrest Metals Inc. filing an […]
Equinor and OMV Agree to New Long-term Gas Sales Deal
(Equinor, 27.Sep.2023) — Equinor has signed a new long-term gas sales agreement with Austria’s major energy company OMV. The agreement is for 5 years starting 1 October this year and with an annual volume of 12 TWh. The gas will be delivered at Germany’s virtual trading hub THE (Trading Hub […]
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Rosebank Field to Progress in the UK [Video]
(Equinor, 27.Sep.2023) — Equinor and Ithaca Energy have taken the final investment decision to progress Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS), investing $3.8bn. The North Sea Transition Authority (NSTA) granted consent for the development of the field on 27 September. “Developing the Rosebank field […]
Equinor: Johan Castberg Project Update
(Equinor, 19.Sep.2023) — The Johan Castberg partnership, consisting of Equinor, VÃ¥r Energi and Petoro, is today updating the project cost estimate. The investment estimate has increased by almost NOK 13bn since last year. Our plan for production start in the fourth quarter of 2024 remains unchanged. “Costs are increasing due […]
More Gas From Gina Krog with Eirin
(Equinor, 19.Sep.2023) — On behalf of the partnership, Equinor has submitted a plan for development and operation (PDO) of the Eirin gas field to the Ministry of Petroleum and Energy. Recoverable reserves in the field are estimated at 27.6 million barrels of oil equivalent, most of which is gas. The […]
Two COSL Rigs Awarded Drilling Contracts
(Equinor, 31.Aug.2023) — Equinor has awarded COSL Offshore Management AS two contracts and will employ COSLPromoter and COSLInnovator on the Norwegian continental shelf. The contract values are calculated at around $369mn for both firm periods. The COSLPromoter is already contracted to Equinor and will commence on the new contract in […]
Authorities Approve JV between Aker Solutions, SLB and Subsea7
(Aker, 4.Aug.2023) — Reference is made to the stock exchange release 30 August 2022 regarding the agreements to form a subsea joint venture with SLB and Subsea 7. Closing is subject to regulatory approvals. Following clearance as of today by antitrust authorities in Brazil, all regulatory approvals/clearances required to close the transactions have […]
MPC Energy on Developments in Panama and El Salvador
 (MPC Energy, 31.Jul.2023) — MPC Energy Solutions (MPCES, Company) announced its H1 2023 results today. MPCES generated 40.4 GWh of electricity from its power-generating projects in the first six months of 2023, corresponding to USD 3.5 million in revenues and USD 2.3 million EBITDA. The total revenue and EBITDA, including the Company’s trading activities […]
TGS Announces 2Q:23 Results
(TGS, 20.Jul.2023) — TGS reported interim financial results for Q2 2023. The quarter reflected a continued improvement in market conditions, with strong growth in both POC revenues (1) and contract inflow. Financial highlights: POC revenues (1) were 241mn compared to 136mn in Q2 2022 POC EBITDA of USD 132mn versus USD 103mn […]
DNO ASA Provides 2Q:23 Trading Update
(DNO ASA, 17.Jul.2023) — DNO ASA, the Norwegian oil and gas operator, will publish its Q2 2023 operating and interim financial results on 17 August at 07:00 (CET). A videoconference call with executive management will follow at 10:00 (CET). The company issues below an update on production and sales volumes for […]
Wintershall Dea Spuds Bergknapp Discovery Well
(Energy Analytics Institute, 13.Jul.2023) ) — Wintershall Dea spud an appraisal well at the Bergknapp discovery in the Norwegian Sea. With estimated resources of between 38 MMboe and 72 MMboe in the Garn and Tilje formations, the discovery is one of the biggest in Norway this decade. “The appraisal will test if it could […]
Norway Reports Largest Hydrocarbon Find in a Decade
(DNO ASA, 10.Jul.2023) — DNO ASA, the Norwegian oil and gas operator, announced a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea license PL1148 in which the company holds a 30 percent interest. Preliminary evaluation of comprehensive data, including cores and fluid samples, acquired from the discovery well and a follow-on extended sidetrack indicates gross recoverable resources […]
Equinor Inks LNG Purchase Agreement with Cheniere
(Equinor, 21.Jun.2023) — Today, 21 June 2023, Equinor and Cheniere have announced a new 15-year purchase agreement of around 1.75 million tonnes of LNG per year, with half of the volume starting from 2027. This agreement brings the total volumes that Equinor has contracted with Cheniere up to around 3.5 million tonnes […]