Latest news with #BarentsSea
Al Arabiya
20-05-2025
- Al Arabiya
Russian strategic bombers carry out scheduled flight over Barents Sea, TASS says
Two Russian TU-95M strategic bombers carried out a scheduled flight over international waters in the Barents Sea, which borders Norway, Russian state news agency TASS reported, citing the Defense Ministry. TASS cited the ministry as saying that the planes had been escorted by flight planes belonging to an unnamed foreign country for part of the flight, which lasted more than four hours.
Reuters
12-05-2025
- Business
- Reuters
Norway's Castberg oilfield remains temporarily halted, Equinor says
OSLO, May 12 (Reuters) - Output from Norway's Johan Castberg oilfield in the Arctic Barents Sea remains temporarily halted while repairs are being made following an outage, operator Equinor ( opens new tab said on Monday. Production from the field's floating production, storage and offloading (FPSO) vessel was shut at the weekend due to a small oil leak from a heat exchanger. There was no discharge of oil into the sea, the company said. The Johan Castberg field pumped its first oil in late March and has a capacity to produce up to 220,000 barrels per day. "We expect to reach plateau production during the second quarter, but are in a start-up phase with various tests and operations that could affect production along the way," Equinor said in an emailed statement.
Reuters
06-05-2025
- Business
- Reuters
Norway parliament orders restart to frontier oil and gas exploration licensing
OSLO, May 6 (Reuters) - The Norwegian parliament on Tuesday ordered the Labour minority government to launch a new frontier areas oil and gas exploration licensing round, setting the stage for increased oil drilling. Norway became Europe's largest supplier of natural gas following Russia's invasion of Ukraine in 2022, providing about 30% of all gas imports to the European Union. here. The motion which was initially tabled by the opposition Conservatives, garnered majority support after it was backed by the opposition Centre Party, which quit the government in January. The original proposal calling the government to launch a new licensing round in the first-half of this year was amended at the Centre Party's request to postpone it until the next year. The Labour government, however, could start preparations for the launch this year. The two former partners agreed in 2022 to postpone frontier area licensing rounds until the end of this year in exchange for a smaller opposition Socialist Left party backing a budget. While Norway stopped awarding ocean blocks for oil and gas drilling in frontier areas, such as in the eastern part of the Barents Sea, it continued to conduct annual licensing rounds in more mature areas. Last year, Norway exported a record amount of natural gas to Europe and volumes are expected to stay near this level in the coming years. The output, however, is expected to fall sharply after 2030. Finding and developing more resources could slow down the expected decline. The Conservatives said more exploration was needed for Norway to remain a stable energy supplier to Europe for a long time. "If the European Union is to succeed in becoming more independent of Russian gas, Norway should continue to contribute," they said in the draft proposal.
