Latest news
SSE has announced its retreating from Scotland-Norway Project
British utility SSE has announced it is retreating from a project to build a subsea electricity cable linking Scotland and Norway. SSE is one of the U.K.'s six major energy providers, and it added also that it will no longer have a financial involvement in the NorthConnect project as it intends to focus on investments in its domestic markets.
read more... 07/03/2013
Daily: UK spot gas settles up on less supply from Norway, Belgium
Brent and U.S. crude oil futures dropped on Friday, marking the lowest levels in six weeks and since early December respectively. Brent crude slipped by 98 cents to settle at $110.41 a barrel on Friday, after having fluctuated between $111.36 and $109.82 during the session, while U.S. crude oil futures for April delivery shed $1.37 on Friday to settle at $90.68 a barrel.
read more... 04/03/2013
Statoil to build a new oil hub in Europe
Norway's Statoil is to build an oil terminal in the Arctic, which according to the Norwegian group could spark “a new industrial era” in the region. Norway's Minister of Petroleum and Energy, Ola Borten Moe said that Statoil ASA's plan to bring oil by pipeline from the Barents Sea to a new terminal in the country's far north could lead the way to a permanent oil hub in the Arctic.
read more... 19/02/2013
Norway to increase the hydro energy share in electricity generation by 2020
Norway, already the greatest producer of hydropower, which is getting the largest share of its electricity from hydropower- a full 95 percent, is planning to soar its annual production by 12% by 2020 following the country’s efforts to meet EU goals for higher energy output.
read more... 04/02/2013
Italy could face an additional cost of about €1 bn for energy
After the last week conflict in Algeria, when Islamic militants attacked a complex controlled by BP PLC, Norway's Statoil ASA and Algeria's state energy company Sonatrach, Italy could face an additional cost of almost 1 billion euro (£839m) per year for energy, because of the interruption of Algerian gas supplies.
read more... 25/01/2013