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.”
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
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.
Labour Party of Norway Commits to Permanently Banning Oil Exploration in Norwegian Arctic
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
From Bloomberg The oil majors are safe from divestments from the world’s largest wealth fund — for now. Plans presented last week by the Norwegian government to get the fund out of smaller oil and gas explorers were broadly welcomed by the country’s politicians, but are also being seized upon as an opening to further pressure oil majors such Royal
From Reuters Norway’s Equinor SA on Tuesday said it plans to explore for oil in deep waters off the coast of South Australia in late 2020 and released a draft environmental assessment for the project to head off community protests. Equinor, formerly known as Statoil, took full control of two permits in the Great Australian Bight, a body of water
From Bloomberg Norway has built a reputation as one of the calmest and most predictable corners of the global oil industry, but lately it’s been full of surprises. During the worst downturn in a generation, from 2014 to 2016, companies would regularly exceed official forecasts as oil production rose in defiance of falling prices. More recently, with crude surging back to multiyear
From Reuters Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head of Norwegian Petroleum Directorate (NPD) said on Thursday. Norway and Russia in 2010 agreed a maritime border in the Barents Sea, ending a 40-year long dispute, and also
From Reuters Norway’s oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years, the country’s oil industry regulator said on Thursday. Investment in Western Europe’s largest oil producer and Europe’s second-largest gas producer, behind Russia, is surging after a decline due to the slump in
From Bloomberg Norway’s oil industry is in full recovery mode, but the country’s top petroleum lobbyist is worried about growing opposition ahead. At the same time as it gave a big boost to investment forecasts for the next five years, the Norwegian Oil and Gas Association sounded one of its starkest warnings yet on the political risk facing the nation’s biggest industry.
From Reuters An oil tanker and a Norwegian navy frigate collided off Norway’s west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway’s top gas processing plant and several offshore fields. The frigate, which recently took part in a major NATO military exercise, was aground and tilting on one side,
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