Announcing the record interim results today, Øystein Kalleklev, CEO of Avance Gas, gave investors an idea of what he and his team could do with the rest of the fleet, which is now missing twelve VLGCs following one of the largest vessel transactions this month. Avance Gas, controlled by John Fredriksen, has agreed to sell […]
Norway’s gas exports have soared so far this year. So much so that they are on track to break historic records, with pipeline deliveries to Europe up 10% year-on-year. This year’s increase follows the lull in 2023 and makes Norway Europe’s leading gas supplier after Russian exports fell following the invasion of Ukraine. Gassco, Norway’s […]
(Bloomberg) – Norway must allocate more land for oil and gas production and expand the country’s burgeoning renewable energy sector to protect domestic suppliers of parts and services, the head of the country’s second-largest oil and gas company said. Karl Johnny Hersvik (Photographer: Fredrik Bjerknes/Bloomberg) “We need as much land as possible for […]
By Alex Kimani – August 23, 2024, 11:00 a.m. CDT OMV announced on Friday the discovery of a large natural gas deposit off the coast of Norway. OMV estimates the total recoverable natural gas volume to be up to 140 million barrels of oil equivalent (boe). In March, the Norwegian oil company […]
OMV (Norge) AS, operator of PL 1194, has completed drilling operations in the Norwegian Sea targeting the “Haydn/Monn” exploration areas. The well encountered gas with an estimated total recoverable volume of between 30 and 140 million boe. “By focusing on gas as a transition fuel, OMV is investing in affordable energy solutions and contributing to […]
While fossil fuel production is expected to decline over time to reach the goal of net-zero production by 2050, the Norwegian Offshore Directorate (NOD), which reports to the Ministry of Energy, has developed three scenarios illustrating a decline in oil and gas production and financial impacts. Over $1.42 trillion (NOK 15 trillion) is at risk […]
Equinor stops production on platform Gullfaks C and evacuates some workers OSLO, August 18 (Reuters) – Norwegian oil and gas company Equinor halted production on its Gullfaks C platform in the North Sea on Sunday and evacuated some workers as a precautionary measure following a well incident, a company spokesman said. “There was a control […]
Maintenance work at Norwegian and supply concerns due to conflicts in the Middle East and Ukraine will support natural gas and LNG prices in the short term, RBC Capital Markets said in a note on Thursday. All of these factors caused the risk barometer to rise “one level higher” this summer, the bank said. Maintenance […]
Add to reading list Published by Poppy Clements, Editorial Assistant Hydrocarbon technology, Friday, 09 August 2024 09:00 Replacing oil and gas production from future Norwegian exploration projects […]
