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Lithuania set to receive LNG cargo from Norway

OSLO: Liquefied natural gas (LNG) tanker Arctic Princess is set to arrive at Lithuania’s LNG terminal at Klaipeda on July 19, port data showed. The 148,000-cubic-metre capacity tanker is delivering gas from Norway’s Snoehvit LNG plant. Lithuania opened the LNG terminal last year as it looks to reduce its reliance on pipeline gas imports from Russia. Read More »

Norway’s economy insulated from falling oil prices

Oslo: Norway has reaped huge dividends from its oil reserves, but it has saved far more of that money than Alberta. It is also making plans for a future beyond oil. Part of the 2015 Atkinson Series on public policy. It’s mid-January 2015 and the price of oil is half what it was four months ago. In Alberta, the provincial ... Read More »

Norway partners with ASEAN free trade bloc

OSLO: ASEAN foreign ministers accepted Norway as a Sectoral Dialogue Partner at their recent meeting in Kuala Lumpa, following Norway’s application early this year to establish a formal partnership with the Asian bloc. The ASEAN free trade area includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Taken together, the ASEAN bloc was Norway’s fourth-largest trading ... Read More »

Port of Seattle signs agreement worth $30m with Norwegian Cruise line

OSLO: A Norwegian Cruise Line cruise ship is docked at Pier 66. The cruise line has signed a long-term lease for the terminal. Norwegian Cruise Line Holdings will continue operating out of Pier 66 until at least 2030 and split with the Port of Seattle an estimated $30 million in facility upgrades. The Port of Seattle commissioners Tuesday unanimously voted ... Read More »

BAE systems delivers 12 new CV90 Infantry fighting Vehicales to Norway Army

OSLO: BAE Systems has delivered 12 new CV90 Infantry Fighting Vehicles (IFVs) to the Norwegian Army. They are the first production batch of a total of 144 new and upgraded CV90s planned for the nation’s Army and represent the next generation of advanced combat vehicles. The delivery of the CV90s occurred on schedule and took place during a ceremony at ... Read More »

TeliaSonera moves business head Rehman from Norway to Sweden

OSLO: TeliaSonera said that Charlotta Rehman moved from her role as head of business development and wholesale at Telia Norway to the post of head of Telia Enterprise Sweden. It said Rehman has a long background at Telia in Sweden and a solid understanding of its business. She has held several leading positions within B2B, marketing, sales and business development. ... Read More »

Cargill buys Norwegian salmon-feed company for $1.5b

OSLO: The agribusiness giant agreed to buy a major Norway-based salmon feed maker for $1.5 billion, its second-biggest acquisition by value and one that bolsters its position in the fast-growing global fish feed business. Minnetonka-based Cargill Inc., one of the world’s largest privately held companies, will buy EWOS from two private equity operations, Altor Fund III and Bain Capital Europe. ... Read More »

Norway’s $1.15 trillion oil fund giant puts premium on ethical investing

OSLO: Norway’s $1.15 trillion Cdn sovereign-wealth oil fund announced this week that it will sell its stakes in four Asian companies over environmental concerns, underlining yet again how willing it is to take an activist approach to companies that fail to meet its ethical standards.   The mammoth fund, which is financed by profits, taxes and fees from Norway’s offshore ... Read More »

GC Rieber Shipping terminates Ceona vessel charter for default

OSLO: Norways’s GC Rieber Shipping has terminated the contract for subsea construction support vessel Polar Onyx, on charter to Ceona, due to a default from the London-based company. The vessel was delivered in March 2014 and went straight on a five-year charter to Ceona, to be used for advanced deep-water operations with Petronas in Brazil. In a release to Oslo ... Read More »

Norway gas and shipping grow 0.2%, after expanding revised 0.3% in Q1

OSLO: Norway’s economic growth slowed in the second quarter as plunging crude prices sap investments and drive up unemployment in western Europe’s biggest petroleum producer. Seasonally adjusted gross domestic product, excluding oil, gas and shipping, grew 0.2 percent, after expanding a revised 0.3 percent in the first quarter, Oslo-based Statistics Norway said. Mainland growth was seen at 0.2 percent in ... Read More »

Norwegian oil & gas technology company CSUB opts for Lithuania

OSLO: The Norwegian company CSUB (former Sorkomp), which works with oil and gas technologies, is launching a production division in Klaipeda. In the short run, CSUB LT plans to create 50 new jobs for engineers, welders, and other specialists. The company is also considering expansion in Lithuania, reports BC press service of Invest Lithuania. As part of the Composites Energy ... Read More »

Closing today of Eltel’s buyout of Eltel Sønnico, Norway

OSLO: Eltel announced on August that the Norwegian Competition Authority has approved Eltel’s acquisition of the Umoe shares with Eltel becoming the sole owner of Eltel Sønnico AS. As all the preconditions for the deal have been met, the closing has taken place today. Eltel Sønnico will be fully consolidated in Eltel Group from today, i. e. for four months ... Read More »

Norway Junk Bond investors losing hope as oil Squeeze deepens

OSLO: Investors are losing hope in the Norwegian high-yield debt market, according to DNB ASA, the nation’s biggest bank. A renewed crude plunge has once again ratcheted up risks in market and the longer the situation lasts the “more investors lose hope that companies will be able to serve their debt,” Magnus Vie Sundal, credit analyst at DNB, said in ... Read More »

BAE Systems delivers 12 New CV90s Infantry Fighting Vehicles to Norway

OSLO: BAE Systems has delivered 12 new CV90 Infantry Fighting Vehicles (IFVs) to the Norwegian Army. They are the first production batch of a total of 144 new and upgraded CV90s planned for the nation’s Army and represent the next generation of advanced combat vehicles. The delivery of the CV90s occurred on schedule and took place during a ceremony at ... Read More »

Norway sovereign wealth fund says among bidders for BlackRock Singapore tower

OSLO: Norway’s sovereign wealth fund is among bidders for BlackRock Inc.’s Asia Square Tower 1, an office building in Singapore’s central business district, according to people familiar with the matter. CapitaLand Ltd., Singapore’s largest developer, and Keppel Land Ltd. have also made offers for the property, said the people, who asked not to be identified because the process is private. ... Read More »

2 Norwegians jailed for smuggling pills

OSLO: Two Norwegians have been jailed for smuggling, even though the pills they were caught with, which they told police were valium, were in fact antihistamines available over the counter. The two fifty-year olds in 2012 paid a pharmacy in Thailand 20,000 kroner for what they thought were 30,500 tablets of ‘blue valium’, which they then tried to smuggle overland ... Read More »

Island Offshore delays 3 newbuilds at Vard’s Brevik yard

OSLO: Norway’s Island Offshore is taking measures to deal with the depressed offshore market, delaying three newbuilds at Vard’s Brevik yard. The company has four vessels under construction at the yard, three platform supply vessels and a subsea vessel, and has delayed delivery of all but one of the PSVs on order. In its latest set of quarterly results, Island ... Read More »

Capio confirm acquisition of two Teres clinics in Norway

OSLO: The acquisition of Teres Stokkan and Teres Tromso in Norway, communicated has now been approved by the Norwegian competition authority. Capio expect closing of the transaction during the fourth quarter 2015. Capio AB (publ) is required to publish the above information under the Swedish Financial Instruments Trading Act. The information was submitted for publication on August 24, 2015 at ... Read More »

Tycoon’s fund to give Northern Ireland’s best start-ups a foot-up

DUBLIN: A new fund and support scheme headed by a global entrepreneur and investor is hoping to boost some of Northern Ireland’s most exciting young start-up firms. The Start Planet NI scheme is an initiative designed to help high potential start-ups access early stage support and private equity investment. It’s being headed up by start-up stalwart, entrepreneur and mentor, Bill ... Read More »

Norway Statkraft eyes hydropower growth in Turkey

OSLO: Norwegian energy company Statkraft, Europe’s biggest producer of renewable energy, is eyeing more hydropower investments in Turkey, its chief executive said late on Tuesday. As part of Turkey’s efforts to liberalise its power market, the privatisation body started the tender process for 10 hydropower plants in July. The tenders are due to be completed by the end of this ... Read More »