Wednesday, May 29, 2024

Norsk Hydro News

Hackers Demand $5M from Pemex

copyright Leo Lintang/AdobeStock

Hackers demanded about $5 million in bitcoin from Mexico's Pemex, they told Reuters on Tuesday, saying the state oil firm missed a special discount by not paying immediately after a cyberattack that fouled up the company's systems.The hack, which Pemex said it detected on Sunday, forced the company to shut down computers across Mexico, freezing systems such as payments, according to…

Var Energi Buys Exxon's Norway Assets for $4.5 Bln

ExxonMobil's stake in the Equinor-operated Grane field is one of more than 20 picked up by Vår Energi in a $4.5 billion deal. (Photo: Øyvind Hagen / Equinor)

ExxonMobil said on Thursday it will sell its Norwegian upstream oil and gas assets to independent exploration and production company Vår Energi for $4.5 billion as part of an ongoing large-scale global divestment plan.The deal, which is expected to close in the fourth quarter, includes ownership interests in more than 20 producing fields in the North Sea and Norwegian Sea with a combined production of approximately 150,000 barrels of oil equivalents per day (boepd) in 2019.

Planning a Wind Farm in Norway? Connecting to Grid from 2019 May Cost You

Grid investments of $17 billion are planned by 2025; big power consumers and producers may need to contribute. A Norwegian plan to force big power consumers and producers to pay for grid upgrades and extensions could disrupt new projects from wind farms and data centres to ventures in the oil industry, companies told Reuters. Beginning in 2019, Norway's water resources and energy directorate…

Norway Labour Unions Threaten Strike by 35,000 Workers

Almost 35,000 private-sector workers organised by Norway's largest labour unions plan to go on strike from April 8 unless a deal is found over wages, pensions and other compensation, the unions said on Tuesday. The first wave of a strike would hit large parts of Norway's metals production by leaving smelters idle, and would have significant impact on the output of fertilisers. But the output of oil and gas from western Europe's largest producer would initially be spared…

Hydro Reveals Additional Spills from Brazil Plant

A Norsk Hydro plant's spill of waste water in Brazil last month was more extensive than previously reported, and the company still lacks overview of the situation, it said on Tuesday. Authorities in late February ordered Alunorte, the world's largest alumina refinery, to cut output in half until it addressed pollution concerns, leading Hydro to declare force majeure with no time set to restart production.

Qatari Export Costs to Rise as Port Ban Disrupts Trading

Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely to rise as the United Arab Emirates' ban on Qatari vessels cuts the ships off from the region's main refuelling port, forcing ships to sail further for fuel or pay higher prices. Saudi Arabia and the UAE, along with Egypt, Yemen and Bahrain…

Norway: No Plan to cut Statoil Stake

The Norwegian government does not plan to cut its stake in Statoil, oil and energy Minister Terje Soeviknes told parliament on Wednesday.   The government holds a 67 percent stake in the oil firm.   There are no plans to cut the government's stakes in fertiliser maker Yara, aluminium maker Norsk Hydro or top bank DNB, industry Minister Monica Maeland said.   Reporting by Terje Solsvik

Agerup Joins Statoil's Board of Directors

New member of Statoil's board of driectors, Wenche Agerup.  (Photo: Halvor Molland/Hydro)

In a meeting in the Corporate Assembly of Statoil ASA on August 20, 2015,  Wenche Agerup was elected as a new member of Statoil's board of directors. Wenche Agerup was the Executive Vice President for Corporate Staffs and the General Counsel of Norsk Hydro ASA from 2010 to December  31, 2014. She has held various executive roles in Hydro since 1997, including within the company's M&A-activities…

Statoil Nominates Agerup on Board

The nomination committee in Statoil recommends that the company's corporate assembly elects Wenche Agerup as a new member of Statoil's board of directors. The nomination committee in Statoil recommends that Wenche Agerup is elected as new member of the board. Catherine Hughes withdrew from the Statoil board with effect from 19 April 2015. The nomination committee’s search for a new…

Trelleborg to Enhance Safety at Sverdrup Oil Field

Photo: Trelleborg

Trelleborg’s offshore operation has secured a contract to supply its thermal insulation, corrosion and passive fire protection (PFP) solutions for use on the new Johan Sverdrup oil field in the North Sea, off Norway. Contracted by Kvaerner, Trelleborg’s offshore operation in Norway will supply its Vikotherm R2 thermal insulation coating to be applied to 12 risers. In addition, the company will provide corrosion coating for 195 riser guides…

Greece, EU Strugglers Among Carbon Reform Winners

Percentage gains more significant than outright; governments, utilities to reap rewards. Europe's poorest nations, including heavily indebted Greece, emerge the main winners from a deal to reform the world's biggest carbon market that will raise billions for EU governments, data from Thomson Reuters Point Carbon shows. The European Union on Tuesday reached a preliminary accord to launch on Jan.

Sætre Appointed President & CEO of Statoil

Statoil’s board of directors has appointed Eldar Sætre as the company’s new president and CEO. Sætre, who has 35 years’ experience from Statoil and the oil and gas industry, has been acting as president and CEO since October, and assumes the role with immediate effect. "Eldar Sætre was our first choice. The industry and company are facing demanding challenges. Eldar stands out with his long experience and ability to create change.

Statoil’s President & CEO Helge Lund Resigns

Helge Lund assumed the role as President and CEO of Statoil on 16 August 2004.

Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign. Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect. According to a Reuters report, Statoil's long-serving chief executive will take on the top role at smaller rival BG…

Kvidal Named Yara Int'l Acting CEO

Torgeir Kvidal is appointed Acting CEO effective 7 October 2014, and Jørgen Ole Haslestad has resigned as Yara CEO. "Yara's Board have concluded that Haslestad is not the right person to lead the company going forward, also in light of the on-going talks with CF Industries. Haslestad would not have a role in a potential merged company," says Leif Teksum, Chairman of the Yara Board of Directors.

Power Line Project Delayed, to Affect Supply in Central Norway

A major Norwegian power line project will be delayed, which is likely to result in insufficient electricity supply and drive up prices in central Norway from late 2016, grid operator Statnett said. Construction of the Oerskog-Sogndal power line had to be stopped after a court revoked a permit that had been issued by the ministry of oil and energy, which means the line cannot be completed in 2016 as previously planned, Statnett said in a statement on Wednesday.

Norway to Retain Statoil Stake

Prime Minister Erna Solberg (Photo: http://www.regjeringen.no)

Norway's right wing government will retain its current holding in oil and gas firm Statoil , backing off a pre-election proposal to cut the stake to about 50 percent from the current two thirds of the shares. The government led by the Conservative Prime Minister Erna Solberg has pledged to reduce the state's role in the economy to give the private sector more breathing space and shrink what it considers a bloated public sector.