Balazs's Feed
Sep 12, 2014

Wintershall buys $1.3 bln of Norwegian assets from Statoil

OSLO, Sept 12 (Reuters) – German oil and gas firm
Wintershall purchased a string of assets from Statoil
on Friday, keeping its reliance on Russia in check and helping
the Norwegian firm lower its costs in the Arctic.

Wintershall, a subsidiary of chemicals maker BASF
, will buy stakes in four fields off Norway, including
the Arctic Aasta Hansteen project, a stake in the 25 billion
crown ($3.7 billion) Polarled pipeline, and smaller stakes in
four exploration prospects, the firms said.

Sep 9, 2014

Norway condemns Hungarian NGO crackdown

BUDAPEST/OSLO (Reuters) – Norway condemned a Hungarian crackdown on non-government organizations on Tuesday after police, as part of a criminal investigation, raided the offices of an NGO that distributes Norwegian funding.

Earlier this year, Budapest launched a legal investigation against organizers and beneficiaries of Norway Grants, saying the Scandinavian nation was helping them advance the political goals of an opposition group. [ID:nL6N0OJ35E]

Sep 3, 2014

Obama says NATO must help strengthen Ukraine’s military

TALLINN (Reuters) – U.S. President Barack Obama urged NATO on Wednesday to help strengthen Ukraine’s military and said the alliance must leave the door open to new members to counter what he called Russian aggression.

Obama was speaking in Estonia, one of three ex-Soviet Baltic states bordering Russia that fear separatist rebellion in eastern Ukraine could herald problems for them. All three have sizeable Russian minorities and rely on Russian fuel deliveries.

Sep 3, 2014

Obama says will “degrade and destroy” Islamic State

TALLINN, Sept 3 (Reuters) – The United States plans to fight
Islamic State until it is no longer a force in the Middle East
and will seek justice for the killing of American journalist
Steven Sotloff, President Barack Obama said on Wednesday.

He added destroying the militant group will take time
because of the power vacuum in Syria, the abundance of battle
hardened fighters that grew out of al-Qaeda in the Iraqi war,
and the need to build coalitions, including with local Sunni

Sep 2, 2014

Estonia wants clear NATO presence in the East to deter Russia

TALLINN (Reuters) – NATO needs a clear and visible presence in eastern Europe to deter Russian aggression but Alliance members also must increase military spending after years of cuts, Estonian Prime Minister Taavi Roivas said on Tuesday.

Roivas told Reuters in an interview that NATO should move weapons storage facilities into the former eastern bloc, increase air policing on its eastern frontier and create a rapid deployment force that could move more swiftly into place in case of a conflict.

Aug 27, 2014

Dearth of oil finds threatens long-term supplies, price

STAVANGER, Norway, Aug 27 (Reuters) – The rate of oil
discoveries continues to disappoint after a record low last year
and firms could even cut their exploration budgets to save on
costs, a risk to long-term supplies and prices, industry
executives said.

Explorers are finding so little oil, many are retreating
from high-risk frontier areas to safer bets like North American
shale, executives at a major Norway oil conference said. This
will likely force them to buy expensive discoveries once
investor sentiment shifts focus to reserves from cash flow.

Aug 25, 2014

Europe has to enforce energy strategy to cut Russia dependence: IEA

STAVANGER, Norway, Aug 25 (Reuters) – Europe needs to
enforce its energy strategy and will have to pay more for gas if
it wants to improve the safety of supply and reduce its reliance
on Russia, the head of the West’s energy watchdog said on

The 28 country European Union is supposed to have a single
market for power and gas, but in practice policy is still
patchy, infrastructure poorly developed and not all governments
follow the single policy line.

Aug 22, 2014

Russia’s Rosneft to buy into Norway oil driller despite sanctions

MOSCOW/OSLO, Aug 22 (Reuters) – Russia’s top crude oil
producer Rosneft will sell drilling rigs to Norway’s
North Atlantic Drilling Ltd (NADL) in return for shares
in the firm, going ahead with an earlier agreed deal despite
sanctions over Ukraine.

Rosneft and its head Igor Sechin, a long-standing ally of
Russian President Vladimir Putin, have been sanctioned by the
West over Moscow’s role in the Ukraine crisis, limiting the
firm’s access to international financial markets.

Aug 21, 2014

Norway’s growth tops Europe even with flat oil investment

OSLO, Aug 21 (Reuters) – Norwegian growth surged beyond all
expectations in the second quarter, even as investments in its
vital oil sector were flat, raising the pressure on the central
bank bringing forward its first rate hike after a string of
positive surprises.

Growth on the mainland, or excluding the lucrative offshore
oil and gas sector, accelerated to 1.2 percent on the quarter
from 0.5 percent three months earlier, official data showed,
comfortably beating forecasts for a 0.6 percent gain.

Jul 25, 2014

Statoil banks on gas market rebound after second-quarter profit miss

OSLO, July 25 (Reuters) – Norwegian oil major Statoil ASA
forecast a recovery in gas prices through the coming
year and said it had held back some production in expectation of
a market rebound, helping send its earnings well below
expectations in the second quarter.

Europe’s second-biggest gas supplier after Russia’s Gazprom
said its European gas prices fell 10 percent from a
year earlier and it chose to hold back production, pushing some
volumes into 2015 in anticipation of better prices ahead.