Browse Tag

Norway

ConocoPhillips announced significant gas discovery offshore Norway

2 mins read

The FINANCIAL — ConocoPhillips (NYSE: COP) announced a new gas condensate discovery in production license 1009 located 22 miles northwest of the Heidrun Field and 150 miles from the coast of Norway in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 65 percent working interest. PGNiG Upstream Norway AS holds 35 percent working interest. The discovery well, 6507/4-1 (Warka), was drilled in 1,312 feet of water to a total depth of 16,355 feet. Preliminary estimates place the size of the discovery between 50 and 190 million barrels of recoverable oil equivalent. Further appraisal will be conducted…

Read More »

ConocoPhillips announced significant gas discovery offshore Norway

2 mins read

The FINANCIAL — ConocoPhillips (NYSE: COP) announced a new gas condensate discovery in production license 1009 located 22 miles northwest of the Heidrun Field and 150 miles from the coast of Norway in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 65 percent working interest. PGNiG Upstream Norway AS holds 35…

NIB finances Western Corridor project in Norway

2 mins read

The FINANCIAL — NIB and the Norwegian system operator Statnett have signed a 15-year loan of NOK 1.2 billion. The loan contributes to finance the upgrade of the main electricity grid in South-West Norway. The Western Corridor is a common name for the main electricity grid in South-West Norway, which includes the counties of Agder…

NIB finances electrified rail transport in Denmark

2 mins read

The FINANCIAL — NIB and the Danish state railway company DSB have signed a loan agreement of EUR 400 million to finance the acquisition of electric rolling stock during 2020–2025. The 15-year loan will finance 42 new, electric locomotives as well as more than 100 train sets and coaches. The investment is part of a ten-year…

Telia first to launch 5G FWA in Norway

2 mins read

The FINANCIAL — Telia Norway is challenging the Norwegian broadband market again and is the first telecom player in the country to offer FWA with 5G. New and existing customers will now have access to very high and stable internet speeds delivered over Telia’s super-fast 5G network. Fixed Wireless Access, or FWA, provides broadband services…

Equinor says Hammerfest LNG plant will be shut for up to 12 months

2 mins read

The FINANCIAL — Surveys of the damage after the fire at Hammerfest LNG on 28 September indicates that the LNG plant will be closed for up to 12 months for repairs. In addition to damage caused by the fire on the air intake on one of the plant’s five power turbines, large amounts of seawater…

Nokia selected by Telia Company to implement 5G standalone core in 6 European markets

4 mins read

The FINANCIAL — Nokia today announced it has been selected by Telia Company as the exclusive provider of 5G RAN in Finland in a five-year deal that includes the modernization of legacy networks and will cover 7,500 sites. Nokia is a long-standing strategic partner to Telia Company and has also been chosen as the supplier…

Equinor announced partnership with Microsoft

4 mins read

The FINANCIAL — Equinor has signed a Memorandum of Understanding (MoU) with Microsoft to explore ways to support the Northern Lights carbon capture and storage (CCS) project as a technology partner. Microsoft will explore using the project to enable the transportation and storage of captured CO2 . Equinor is developing the project together with Shell and…

World Bank Issues Sustainable Development Bonds in Scandinavian Currencies

6 mins read

The FINANCIAL — The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced new Norwegian krone- and Swedish krona-denominated Sustainable Development Bonds raising approximately US$ equivalent 550 million while engaging with Scandinavian investors to raise awareness for the importance of combatting food loss and waste. These challenges are outlined by Sustainable Development Goal…

The tech company Play Magnus today been admitted trading

2 mins read

The FINANCIAL — Play Magnus recently raised NOK 452 million through a private placement, consisting of NOK 300 million in new shares and approximately NOK 152 million to existing shareholders. The issue was significantly oversubscribed.   “The shareholders have provided the company with NOK 300 million in fresh equity, which will be used for technology development and further growth”, states the company.   “This is…

UNSC Members support sovereignty and territorial integrity of Georgia

5 mins read

The FINANCIAL — On 5 August 2020, the UN Security Council discussed the situation in Georgia’s occupied territories and the Russia-Georgia conflict at its closed session dedicated to the 12th anniversary of Russia’s military aggression against Georgia. The parties expressed their extreme concern about the intensification of the so-called “borderisation process.” UN Security Council member states are also…

How is Norway’s entertainment scene holding up amidst the Pandemic?

5 mins read

The Scandinavian countries have been known to approach most global cases a little differently, and while in most scenarios this would not be something for others to worry about, as the Pandemic is taking over the world, more countries are paying attention to how others are approaching this subject.…