Balazs's Feed
Oct 15, 2014

Norsk Hydro clients want ‘green’ aluminium: CEO

OSLO (Reuters) – Some major customers of Norwegian aluminium maker Norsk Hydro (NHY.OL: Quote, Profile, Research, Stock Buzz) want it to certify metal made with clean hydro power to help a shift from high-polluting fossil fuels and combat climate change, chief executive Svein Richard Brandtzaeg said.

He also said the company, the world’s number nine producer of primary aluminium in 2013, was investing in measures to cut greenhouse gas emissions because it expects governments to impose a global price on carbon pollution sometime in future.

Oct 15, 2014

Statoil CEO quits to take top job at BG

OSLO/LONDON, Oct 15 (Reuters) – Statoil’s
long-serving chief executive Helge Lund unexpectedly quit on
Wednesday to take on the top role at BG Group where he
has been promised a big rise in pay if he can turn the flagging
British gas firm around.

Lund, who in 10 years transformed Norway’s once
domestic-focused state oil firm into a $77 billion international
major, now faces a new set of problems at BG, Britain’s
third-largest energy firm, which has been struggling following a
string of production downgrades that cost the previous chief
executive his job.

Oct 10, 2014

Pakistan’s Malala Yousafzai, Indian activist Kailash Satyarthi win Nobel Peace Prize

OSLO (Reuters) – Pakistani teenager Malala Yousafzai, who was shot in the head by the Taliban in 2012 for advocating girls’ right to education, and Indian children’s right activist Kailash Satyarthi won the 2014 Nobel Peace Prize on Friday.

Yousafzai, aged 17, becomes the youngest Nobel Prize winner by far.

Satyarthi, 60, and Yousafzai were picked for their struggle against the oppression of children and young people, and for the right of all children to education, the Norwegian Nobel Committee said.

Oct 10, 2014

Pakistani teen, Indian activist win Nobel Peace Prize

OSLO (Reuters) – Pakistani teenager Malala Yousafzai, who was shot in the head by the Taliban in 2012 for advocating girls’ right to education, and Indian children’s right activist Kailash Satyarthi won the 2014 Nobel Peace Prize on Friday.

Yousafzai, aged 17, becomes the youngest Nobel Prize winner by far.

Satyarthi, 60, and Yousafzai were picked for their struggle against the oppression of children and young people, and for the right of all children to education, the Norwegian Nobel Committee said.

Oct 8, 2014

Norwegian shipping tycoon plans to merge dry bulk shipping assets

OSLO, Oct 8 (Reuters) – Norwegian shipping tycoon John
Fredriksen plans to merge his dry bulk shipping arms Golden
Ocean and Knightsbridge Shipping in an
attempt to fight off a downturn in the sector and create one of
its biggest fleets.

Fredriksen, who owns a plethora of shipping assets ranging
from offshore rig firm Seadrill to tanker group
Frontline, would own 42 percent of the combined firm,
to be named Golden Ocean Group, the companies said in a
statement.

Sep 30, 2014

Norway’s oil minister concerned lower oil price will hit investment

TRONDHEIM, Norway, Sept 30 (Reuters) – Norway is concerned
about a drop in energy investment levels and would like oil
prices to rise back above $100 per barrel, but still sees
activity levels high by historical standards next year, the
energy minister told Reuters on Tuesday.

Exploration in Norway’s Arctic was disappointing this year,
despite record high drilling activity, and a key worry for the
sector is if service companies permanently remove capacity, as
they did in the 1990s, becoming unable to meet increased demand
once oil prices rise again, Tord Lien said.

Sep 26, 2014

New Yara CEO quits before he starts after merger talks announcement

OSLO, Sept 26 (Reuters) – Fertiliser maker Yara’s
new chief executive, who was to start in February, quit on
Friday just days after the firm announced it was in merger talk
with rival CF Industries to create a $27 billion company.

Svein Richard Brandtzaeg, who announced in July that he
would take the helm at the world’s biggest nitrate fertiliser
maker, said he will stay on as CEO of aluminium producer Norsk
Hydro, where he has worked for the past 29 years.

Sep 25, 2014

35 jet combat ready next year, new Israeli order close

OSLO (Reuters) – The first version of the F-35 fighter jet will be combat ready by mid-2015, despite an engine failure which still needs a fix, and Israel could sign a deal within months to buy more of the aircraft, program officials said on Thursday.

The cost of the jet, which has struggled with delays and budget overruns, could be reduced to the target level by 2019. South Korea’s decision on Wednesday to buy 40 F-35s for about $7 billion was a step in lowering the per unit cost, officials said in Oslo after a two-day meeting between F-35 partner countries.

Sep 25, 2014

35 jet combat ready next year despite engine fix: Lockheed

OSLO (Reuters) – Lockheed Martin (LMT.N: Quote, Profile, Research, Stock Buzz) expects the cost of the F-35 fighter jet to drop to its target level by 2019 and still sees the first version of the aircraft combat ready by mid-2015, despite an engine failure which still needs a fix, the firm said on Thursday.

A decision by South Korea on Wednesday to order 40 F-35s for around $7 billion further lowers the program’s cost and Lockheed sees the per-unit cost down to $80-$85 million by 2019 from the current rate of around $115 million, Jeff Babione, Lockheed’s deputy manager for the F-35 program told reporters in Oslo.

Sep 23, 2014

Norway’s Yara, CF in talks to create $27 billion global fertilizer producer

OSLO (Reuters) – Norway’s Yara (YAR.OL: Quote, Profile, Research, Stock Buzz) and Chicago-based CF Industries (CF.N: Quote, Profile, Research, Stock Buzz) are in talks about a merger of equals that could create a $27 billion global fertilizer producer, rivaling Canada’s Potash Corp (POT.TO: Quote, Profile, Research, Stock Buzz) in size in a fragmented and oversupplied market.

The deal would give Yara, the world’s biggest nitrate fertilizer maker, major production units in the United States, where costs are lower due to cheap gas. CF Industries would gain a global footprint through Yara’s presence in 150 countries with production assets and a well established distribution network.