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Norway Oil Fund Puts TD Bank Under Observation

Norway Oil Fund Puts TD Bank Under Observation

Norway's $1.9 trillion sovereign wealth fund said late Wednesday that it has placed Toronto-Dominion Bank under observation for a period of four years over financial crime concerns.
The wealth fund is managed by Norway's central bank, but decisions to exclude or place companies on observation are made based on recommendations from an ethics council appointed by the ministry of finance.
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Halliburton secures North Sea well stimulation services deal
Halliburton secures North Sea well stimulation services deal

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time9 minutes ago

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Halliburton secures North Sea well stimulation services deal

Independent exploration and production (E&P) company ConocoPhillips Skandinavia has awarded Halliburton a five-year contract to provide comprehensive well stimulation services. The contract, which also includes options for three extensions, is aimed at enhancing well performance and reservoir productivity in the North Sea. Halliburton, a global provider of products and services to the energy industry, will be responsible for transforming Tidewater's ship the North Pomor into a stimulation vessel. This upgrade is designed to offer efficient offshore well stimulation services, incorporating Halliburton's Octiv digital fracturing services to optimise equipment performance and operational efficiency. Halliburton Completion and Production senior vice-president Mark Dawson said: 'We are pleased to strengthen our long-standing relationship with ConocoPhillips through this important award. 'This contract win complements our extensive experience in well stimulation and highlights how we execute globally. The combination of our latest technology and our focus on automation and safety is how we maximise value for our customers.' ConocoPhillips, operating in 15 countries, integrates various efforts to efficiently discover and produce oil and natural gas. Earlier in the year, ConocoPhillips, under production licence 891, finished drilling a second appraisal well, 6507/5-12 S, at the Slagugle oil discovery in the Norwegian Sea. The Slagugle oil discovery was initially proven in 2020, with preliminary estimates suggesting resources in the range of 30.8 million barrels of oil equivalent (mboe) to 61.6mboe in Triassic reservoir rocks. "Halliburton secures North Sea well stimulation services deal" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio

NORDEN reports net profit of USD 52 million (DKK 342 million) in Q2 2025
NORDEN reports net profit of USD 52 million (DKK 342 million) in Q2 2025

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time2 hours ago

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NORDEN reports net profit of USD 52 million (DKK 342 million) in Q2 2025

ANNOUNCEMENT NO. 163 – 14 AUGUST 2025 HELLERUP, Denmark, Aug. 14, 2025 /PRNewswire/ -- Despite challenging market conditions, NORDEN delivered a net profit of USD 52 million (DKK 342 million) in the second quarter of 2025 and a return on invested capital of 10% LTM. In H1 2025, the net profit was USD 85 million, of which USD 44 million came from combined operating earnings across the Group and USD 41 million were sales gains. The NAV was DKK 337 per share at the end of the second quarter. In line with our strategy to realise high portfolio values, we have YTD sold 20 vessels, including two vessels after the quarter end, of which 13 were from declared purchase options. In parallel with declaring purchase options and selling vessels, we have YTD also signed 18 new lease agreements to ensure we stay positioned for future upside. We raise the lower end and narrow our full-year guidance to USD 70–130 million (previously USD 50–130 million). Thanks to the disciplined execution of our asset strategy, we have managed to unlock significant portfolio value, and we now expect gains from sale of vessels of USD 70 million for the full-year 2025 (previously USD 45 million). NORDEN CEO, Jan Rindbo, comments: "In Q2 2025, NORDEN generated a net profit of USD 52 million and a ROIC of 10%, driven by profitable contract cover and sales gains in weaker spot markets. Having year-to-date sold 20 vessels and added 18 vessels through new leasing agreements with purchase options, we are realising significant asset values while optimising our fleet portfolio with the most fuel-efficient vessels available in the market today." We propose to distribute USD 20 million to shareholders for the second quarter through a dividend of DKK 2 per share and a new share buy-back program of USD 10 million, corresponding to 38% of the result for the second quarter. Kind regards, Dampskibsselskabet NORDEN A/SKlaus NyborgChair Dividend will be paid through VP Securities based on shareholdings registered in VP Securities on 18 August 2025 after close of trading on Nasdaq Copenhagen. In the systems of Nasdaq Copenhagen, NORDEN shares will trade cum interim dividend up to and including the trading day of 14 August 2025. Shares traded in the systems of Nasdaq Copenhagen from and including the trading day of 15 August 2025 will be traded ex interim dividend. Dividend will expectedly be available in the shareholders' accounts on 19 August 2025. For further information: Therese Möllevinge, Head of Investor Relations, tel.: +45 41 37 16 38, e-mail: thm@ This information was brought to you by Cision The following files are available for download: No 163 NORDEN Q2-H1 report NORDEN Interim Report Q2 2025 View original content: SOURCE NORDEN Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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