Norway

IEEFA Research

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

With export markets' changing expectations, investors and industry beware

31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars

Industry problems hit before the pandemic, were made worse by it and will persist even after the economy improves

October 20, 2020 (IEEFA) — After years of benefitting from record oil and gas revenues, global markets are signaling the beginning of the end of New Mexico’s financial reliance on fossil fuels. Leases, royalty payments and taxes from the oil and gas industry have directly accounted for as much as 30 percent of the state’s […]

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]

IEEFA report: BlackRock’s fossil fuel investments wipe US$90 billion in massive investor value destruction

IEEFA report: BlackRock’s fossil fuel investments wipe US$90 billion in massive investor value destruction

Investors need to ask why

August 1, 2019 (IEEFA Asia Pacific)  ̶  BlackRock, the world’s largest fund manager with US$6.5 trillion of assets under management – bigger in value than the third largest economy in the world – continues to ignore the serious financial risks of putting money into fossil fuel-dependent companies, a new report has found. Produced by the […]

IEEFA update: Norway’s GPFG sovereign fund to invest up to $14bn in unlisted renewables

IEEFA finance director says it is “good for the fund and the planet.”

NEW YORK, April 5, 2019 (IEEFA) — Norway’s decision today to allow the Government Pension Fund Global (GPFG) to invest in unlisted renewable energy infrastructure represents a significant step by the world’s largest (US$ 1 trillion) pension fund, according to the Institute for Energy Economics and Financial Analysis (IEEFA). The policy change will be presented for […]

IEEFA report: Argentina’s Vaca Muerta Patagonia fracking plan is financially risky, fiscally perilous

IEEFA report: Argentina’s Vaca Muerta Patagonia fracking plan is financially risky, fiscally perilous

Major investors Chevron, ExxonMobil, Equinor, Total, Shell and Tecpetrol are depending on tenuous subsidies

New York/Buenos Aires (March 21, 2019) — The Vaca Muerta oil and gas project, which promises to double oil and gas production over the next six years in Argentina, is facing such strong headwinds from current fiscal, market, political and environmental forces that “the plan is likely to fail,” according to a report released today […]

Informe IEEFA: El plan argentino de fracking en Vaca Muerta de Patagonia es financieramente riesgoso, fiscalmente peligroso

Informe IEEFA: El plan argentino de fracking en Vaca Muerta de Patagonia es financieramente riesgoso, fiscalmente peligroso

Los principales inversores Chevron, ExxonMobil, Equinor, Total, Shell y Tecpetrol dependen de subvenciones frágiles.

Nueva York/Buenos Aires (21 de marzo de 2019) – El proyecto de gas y petróleo Vaca Muerta, que promete duplicar la producción de ambos combustibles en los próximos seis años en Argentina, enfrenta obstáculos tan fuertes por las actuales fuerzas fiscales, de mercado, políticas y ambientales que “el plan probable fracase”, según un informe publicado […]

March 21, 2019 Read More →
IEEFA Update: Norway Shows What to Do With Fading Oil and Gas Holdings

IEEFA Update: Norway Shows What to Do With Fading Oil and Gas Holdings

A Marquee Global Fund Sees Too Much Risk in Not Divesting

In recommending last week that oil stocks be excluded from its equity benchmark index, Norges Bank, the Norwegian Government Pension Fund Global (GPFG) manager, has moved oil stocks from a mainstream investment to a speculative grade risk. If Norway’s Finance Ministry and Parliament agree, GPFG will still invest in oil and gas stocks, but under […]

November 22, 2017 Read More →
IEEFA Report: Renewable Energy Opportunity Now for Norway’s $976 Billion Pension Fund as Global Institutional Capital Migrates Out of Fossil Fuels

IEEFA Report: Renewable Energy Opportunity Now for Norway’s $976 Billion Pension Fund as Global Institutional Capital Migrates Out of Fossil Fuels

35% of Assets Reallocated Can Go Into High-Growth Sector; Risks Can Be Responsibly Managed; Possibilities Include Stocks, Index Funds and Infrastructure

Aug. 30, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published a report urging Norway to allocate more of its Government Pension Fund Global (GPFG) assets to the fast-growing global renewable energy market. The report — “How Renewable Energy Holdings Can Contribute to the Growth of Norway’s Pension Fund in […]

IEEFA Norway: Why the World’s Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure

IEEFA Norway: Why the World’s Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure

The Sector is Growing, Returns Are Reliable, the Outlook is Positive

We published a report this morning that highlights how Norway is at a historic crossroads in how it manages some of its vast national wealth bound up in the Government Pension Fund Global (GPFG). Indeed, GPFG is facing an unusually opportune moment this summer, as Parliament considers whether to enact a mandate that would have […]

and February 22, 2017 Read More →

More News and Commentary

Norway’s Statkraft to build three wind farms in Chile

Re.News.biz: Norwegian energy company Statkraft has unveiled plans to build its first wind farms in Chile, comprising the three-project 102MW Torsa complex. Construction at Torsa, which will feature 19 Nordex N163/5.X machines, will start in the second half of this year. The three wind farms are called Cardonal, Manantiales and Los Cerillos and will be […]

April 12, 2021 Read More →

Norway’s sovereign wealth fund makes first direct investment in a renewable energy project

Reuters: Norway’s $1.3 trillion sovereign wealth fund has made its first direct investment in a renewable energy project, a new asset class for the world’s largest state-owned investor, it said on Wednesday. The fund bought a 50% stake in the Borssele 1 and 2 wind farm off the Netherlands for 1.375 billion euros ($1.63 billion) […]

April 7, 2021 Read More →
IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 
and

IEEFA: Santos’ Barossa gas field emissions create major risks for shareholders 

With export markets' changing expectations, investors and industry beware

31 March 2021 (IEEFA Australia): Santos’ proposed offshore Barossa gas field near Darwin, Northern Territory has the unfriendly tag of having more carbon dioxide than any gas currently made into LNG, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). The gas contains so much CO2 that most of it […]

Norway’s Scatec to invest $11.8 billion in renewable energy projects through 2025

Reuters: Norwegian renewable energy producer Scatec plans to invest 100 billion Norwegian crowns ($11.8 billion) by the end of 2025 in a drive to increase output capacity fivefold, the company said on Tuesday. Originally a solar power producer, Scatec has expanded to hydro and wind power as well as electricity storage to capitalize on a […]

March 23, 2021 Read More →

Equinor’s floating offshore wind project in Scotland posts 57% capacity factor in 2020

OffshoreWind.biz: Hywind Scotland, the world’s first floating offshore wind farm, has reached the highest average capacity factor for any wind farm in the UK for its third consecutive year. With an average capacity factor of 57.1% in the twelve months to March 2021, Hywind Scotland set a new record in the UK. During its first […]

March 23, 2021 Read More →

Norwegian firms planning green ammonia project

Reuters: Norway’s Statkraft and Aker Horizons, a unit of investment firm Aker, have joined chemicals firm Yara in electrifying and decarbonising a plant in Norway to produce zero carbon ammonia, the companies said on Thursday. Yara, one of the world’s largest producers of nitrogen fertilisers, aims to eliminate CO2 emissions from the 500,000-tonnes-a-year plant in […]

March 1, 2021 Read More →
IEEFA Africa: Is Angola a cautionary tale for Guyana’s oil wealth hopes?
and

IEEFA Africa: Is Angola a cautionary tale for Guyana’s oil wealth hopes?

After 25 years of deepwater drilling, African nation sinks $76B deeper in debt

The  South American country of Guyana, the latest nation to have discovered commercial reserves of oil and gas, hopes to raise its standard of living, cut its debt, eliminate its deficit and create a sovereign wealth fund. It is in a weak position to accomplish these goals.  Consider the example of Angola, which has hosted […]

Norwegian electrolyzer firm seeks price parity for green hydrogen by 2025

S&P Global Market Intelligence ($): Norwegian electrolyzer-maker Nel ASA wants to reduce the cost of green hydrogen, produced with renewable electricity, to $1.50 per kilogram by 2025 in a bid to outcompete fossil fuel alternatives. Cost reductions will be made by bringing the technology to multi-gigawatt scale and growing production capacity, the company said Jan. […]

January 21, 2021 Read More →

Norwegian, Belgian firms to build 800MW of wind capacity in Serbia by 2026

Renewables Now: Norwegian utility-scale wind power developer NBT entered a partnership with Belgium-based WV International, former Windvision, to develop wind projects with a combined capacity of 800 MW in Serbia by 2026, the two companies said on Tuesday. The first wind parks with a combined capacity of 168 MW are coming online in 2023, NBT […]

January 20, 2021 Read More →
IEEFA: After a terrible 2020, the oil industry’s story has turned political
and

IEEFA: After a terrible 2020, the oil industry’s story has turned political

For 2021, expect conflict and infighting to further muddy the industry’s prospects

It was a dismal year for oil and gas. As the pandemic sucked the wind from the sails of the global economy, oil demand slumped, stockpiles swelled, prices sagged, capital spending collapsed, debt ballooned, profits evaporated, and bankruptcies skyrocketed. After this torrent of bad news, the energy sector ended the year in last place in […]