Norway

IEEFA Research

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 →
Coal Industry Arguably ‘Poorest-Performing Sector’ in Global Economy: New IEEFA Analysis

Coal Industry Arguably ‘Poorest-Performing Sector’ in Global Economy: New IEEFA Analysis

A ‘clear, effective and achievable’ mandate by Norway's Parliament is seen as the most effective way to limit losses from an energy sector in deep decline; Fiduciary duties are emphasized; Industry’s growing opposition to climate science is noted

CLEVELAND, May 18, 2015 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) today urged the Norwegian Government Pension Fund Global (GPFG) to reduce its exposure to fossil-fuel risk by divesting more of its coal-related holdings. A new IEEFA report, “The Case for Divesting Coal from the Norwegian Government Pension Fund Global,” presents […]

and May 17, 2015 Read More →

More News and Commentary

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 […]

Norway’s Equinor, Scatec team up to build 480MW solar project in Brazil

PV Tech: Norwegian energy firms Equinor and Scatec are to collaborate on a 480MW solar project in Brazil. The duo have signed a Memorandum of Understanding (MoU) with compatriot energy and aluminium provider Hydro to develop the project, with Hydro set to become an offtaker for some of the solar farm’s production. The MoU will […]

December 10, 2020 Read More →

Norway’s Statkraft buys Solarcentury and company’s 6GW project portfolio

PV Tech: Norwegian renewables giant Statkraft is to acquire UK-headquartered solar developer Solarcentury, taking on a 6GW global portfolio in doing so. The deal, struck at a purchase price of £117.7 million, will see Statkraft take on a pipeline of utility-scale solar projects in markets including Spain, Chile, Italy, Greece, France, the Netherlands and the […]

November 3, 2020 Read More →
IEEFA U.S.: Plummeting oil and gas prices leave New Mexico’s budget short by hundreds of millions of dollars
and

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
, and

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 […]

Norway’s Scatec Solar buys SN Power, expands presence in renewable energy sector

Reuters: Norwegian solar firm Scatec Solar said on Friday it had agreed to buy state-owned hydropower firm SN Power in a $1.17 billion deal as it transforms itself into a global renewables company. The combined company would have 450 employees and own 3.3 gigawatts of in operation and under construction power plant capacity in 14 […]

October 16, 2020 Read More →

Norway’s Statkraft set to begin construction on South America’s largest wind farm

S&P Global Market Intelligence ($): Statkraft AS is preparing to start work on a 519-MW wind project in northeastern Brazil, after signing a turbine supply contract with Nordex SE. The Ventos de Santa Eugenia wind project will consist of 10 wind farms with a total of 91 turbines in the state of Bahia. It is […]

October 13, 2020 Read More →

Equinor begins construction of world’s largest floating offshore wind project in Norway

OffshoreWind.biz: The construction has started on the world’s largest floating offshore wind farm, Hywind Tampen, at Kværner Stord in Norway, Equinor said. Kværner’s assignment will include building eleven floating concrete hulls for the Siemens Gamesa 8 MW turbines on the 88 MW Hywind Tampen. “Eighty percent of the world’s offshore wind resources are located in […]

October 2, 2020 Read More →