Wojciech's Feed
Feb 15, 2010

Yara buys Terra for $4.1 bln, bets on U.S. recovery

OSLO, Feb 15 (Reuters) – Norway’s Yara <YAR.OL> agreed to buy Terra
Industries <TRA.N> for $4.1 billion to create the world’s biggest mineral
fertiliser producer and boost its U.S. presence, as rivals look to join forces
to gain size and reach.

Norway’s biggest-ever foreign takeover announcement on Monday comes a month
after U.S. CF Industries Holdings <CF.N> withdrew its year-long hostile bid for
Terra. [ID:nN14179782]

Feb 10, 2010

Telenor sees lower margins in 2010, shares slip

OSLO, Feb 10 (Reuters) – Norway’s Telenor ASA <TEL.OL> said
margins would fall in 2010 even as mobile telephony spending
picks up from crisis levels, eclipsing better-than-expected
fourth quarter results and sending its shares lower.

Telenor, which has 174 million mobile clients, was hit by
lower disposable spending during the global downturn and had to
cut costs to maintain profitability last year.

Feb 1, 2010

Off-duty Norway troops help children leave Morocco

OSLO, Feb 1 (Reuters) – Off-duty Norwegian naval commandos helped two children escape from Morocco last July, Norway’s defence minister said on Monday.

The children of a Moroccan Olympic gold medallist and his Norwegian ex-wife spent time at the Norwegian ambassador’s residence in Rabat before they were smuggled out of the country on a boat with the help of the Norwegian commandos.

Morocco last year accused Norway of helping the children, then aged 13 and 16 and with dual Norwegian-Moroccan citizenship, to leave the North African country illegally.

Norway says it did nothing wrong, that the children were held in Morocco against their will and "feared for their lives", so they were allowed to spend a few days inside the embassy.

Oslo has repeatedly denied helping the children return.

Defence Minister Grete Faremo said the soldiers were not acting under orders from authorities and were off duty. "The Norwegian authorities did not assist when these children were taken from the country," she told a media conference.

"The troops’ participation was unacceptable," Faremo said, adding that she had launched an investigation into the affair.

Moroccan newspapers said the children had been kidnapped from their father Khalid Skah, who separated from his wife Anner Cecilie Hopstock in 2006. Skah won a gold medal in the 10,000 metres race at the 1992 Barcelona Olympics.

Norwegian authorities say the children had run away from Skah and sought refuge at the Norwegian embassy.

"The transportation of the children (from Morocco) was the mother’s responsibility, plan and work," Foreign Minister Jonas Gahr Stoere told the same news conference.

Hopstock had told Norwegian media that she had travelled with Skah and their children to Morocco in 2006. She said he locked them up in separate rooms and took away their passports.

She returned to Norway in 2007 and the children were meant to follow but Skah kept them in Morocco.

Skah had told a Moroccan newspaper he was living with his children in peace and harmony until the Norwegian ambassador came to his house with armed men and kidnapped the children.

Norwegian officials have denied this. (Additional reporting by Ole Petter Skonnord; Editing by Louise Ireland)

Jan 14, 2010

Most Norwegians want Arctic drilling study: survey

OSLO (Reuters) – An industry-backed survey published on Thursday shows most Norwegians favor an impact study that could pave the way to open a pristine, fish-rich Arctic area to oil activities and prolong Norway’s energy boom.

The oil industry says the waters near the Lofoten and Vesteraalen islands in the Arctic now have the most prospects off Norway and must be tapped to prolong the North Sea state’s oil bonanza as output from mature oilfields declines.

Jan 7, 2010

Statoil says Troll gas “reliable” after outage

OSLO/LONDON, Jan 7 (Reuters) – Gas production returned to
normal levels at Troll, Norway’s biggest field, and operator
Statoil described the supplies as “secure and reliable” after a
several hour stoppage stoked alarm in Britain on Thursday.

Norwegian oil and gas producer Statoil said the ramp-up of
gas production at Troll was completed in the afternoon hours
after the field’s A platform was shut for about two hours from
about 0815 GMT on Thursday.

Jan 6, 2010

Iran diplomat quits over protests

OSLO (Reuters) – A diplomat at the Iranian embassy in Norway told Norwegian television on Wednesday that he had resigned in protest over a crackdown on demonstrators in Iran but the government in Tehran denied the report.

“It was the Iranian authorities’ treatment of demonstrators during the Christmas week that made me realize I couldn’t continue,” public broadcaster NRK quoted Mohammed Reza Heydari as saying.

Dec 15, 2009

Exxon says may sell stake in Norway gas pipelines

OSLO, Dec 15 (Reuters) – U.S. oil company ExxonMobil <XOM.N>
said it may sell its 9.4 percent stake in Gassled, the owner of
Norway’s gas transport system, but has no plans to reduce its
activities on the Norwegian shelf.

Gassled is a joint venture between oil and gas companies on
the Norwegian continental shelf which owns the integrated North
Sea gas transport system carrying nearly 100 billion cubic
metres of Norwegian gas per year to Europe.

Dec 7, 2009

Markets need progress in Copenhagen, says Norway’s SWF

OSLO (Reuters) – Financial markets need global climate talks getting underway in Copenhagen to iron out a plan to price emissions more effectively and seal the switch to a low carbon economy, Europe’s biggest investor told Reuters on Monday.

Norway’s oil revenue-fueled $440 billion sovereign wealth fund says climate change poses risks for its long-term investment and has lobbied along with other international investors for a strong agreement in Copenhagen.

Dec 2, 2009

Cisco has 84 pct of Tandberg, won’t extend bid

NEW YORK/OSLO, Dec 2 (Reuters) – Cisco Systems Inc <CSCO.O>
said its bid for Tandberg ASA <TAA.OL> has been accepted by 84
percent of shareholders in the Norwegian videoconferencing
company, and gave a one-day ultimatum to those who have not yet
tendered their shares.

Most analysts said the 19 billion Norwegian crown ($3.4
billion) deal is likely to go forward, creating an industry
leader in videoconferencing, although the acceptance level by
Tuesday was slightly lower than the 90 percent originally set
as a minimum requirement.

Dec 1, 2009

Statoil, Gazprom sign LNG, gas deals for U.S.

OSLO, Dec 1 (Reuters) – Europe’s two biggest suppliers of
natural gas, Norway’s Statoil ASA <STL.OL> and Russia’s
Gazprom’s <GAZP.MM>, signed initial deals to import liquefied
natural gas (LNG) to the United States and trade energy there.

The preliminary deal, whose terms will be negotiated over
the coming months, comes at a time when U.S. gas markets are
plagued by low prices due to massive expansion of shale
production, which has reduced the need for LNG imports.