Norwegian government-run Enova has approved funding of up to NOK 2.3 billion (US$256 million) to support a project that would develop the world's first floating offshore wind farm to power offshore oil and gas installations in the northern North Sea. The Hywind Tampen project proposes supplying electricity from a floating offshore wind farm to the Equinor-operated … [Read more...]
Norway’s Oil Industry Must Become Emissions-Free, Labor Says
By Mikael Holter (Bloomberg) -- Norway should set a deadline for its oil industry to become completely emissions-free, the leader of the country’s biggest opposition party said. The proposal amounts to a hefty ambition to fulfill for Norway’s oil industry, the country’s biggest emitter of greenhouse gases by far, even as more offshore platforms are receiving power from shore … [Read more...]
Pioneering Spirit Sets New Offshore Lifting Record at Johan Sverdrup
A new offshore lifting world record has been set with the installation of the final topsides in first phase of the Johan Sverdrup field development project in the North Sea. The final two platform topsides were installed using none other than the heavy lift vessel Pioneering Spirit, which installed the topsides utilizing the vessel’s unique single-lift … [Read more...]
Norway Wealth Fund Turns Spotlight on India Shipbreaking
By Gwladys Fouche OSLO, March 13 (Reuters) - The ethics watchdog for Norway's $1-trillion wealth fund will focus this year on shipbreaking on India's beaches, which endangers workers and pollutes the sea and sand, and will also look into pollution caused by pharmaceutical companies. The world's largest sovereign wealth fund, created from the proceeds of Norway's oil … [Read more...]
Norway Fund to Sell Stakes in Oil Exploration and Production Firms, But Its Keeping Integrated Energy Stocks
By Gwladys Fouche and Terje Solsvik OSLO, March 8 (Reuters) - Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan. The proposal announced on Friday said the fund's stakes in … [Read more...]