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BBC News
4 days ago
- Politics
- BBC News
Kielland families welcome Norway rig deaths compensation
Families of British workers killed in an oil rig disaster 45 years ago have welcomed the Norwegian government's decision to pay them than 120 people died, including 22 Brits, when the Alexander Kielland floating platform capsized in the Norwegian North Sea oil fields on 27 March relatives were in Oslo to see the Norwegian parliament, the Storting, agree by a narrow margin to pay compensation to survivors and the families of the Fleming, whose father was one of those killed, said the agreement was long overdue recognition of the Norwegian state's failings. Ms Fleming, from Durham, previously said there were unanswered questions about the disaster, which killed her father Michael and five of his compatriots from the Cumbrian village of Cleator compensation motion had been opposed by the government but passed through the Storting by 53 votes to 51. Ms Fleming, who was six when her 37-year-old dad died, said: "It's only right the Norwegian government have eventually done the right thing and agreed to pay a tiny amount of their wealth to the people that unwillingly and unwittingly sacrificed their lives."This feels likes a weight has been lifted of our shoulders."She praised the Kielland Network, a campaign group set up by survivors and families of the deceased to call for justice."People have given years of their lives to this cause and we are very grateful for the work that has been done," Ms Fleming said. Among the 40 members of the Kielland Network who attended the vote in central Oslo, there was a great deal of sadness that the group's founder, Kian Reme, was not there with Reme, whose brother Rolf was killed in the disaster, died in 2024 from cancer."He was the reason we got this far," Ms Fleming said, adding: "He was a man with strength of fight but also full of peace and forgiveness."He'd be so happy if he were here, but I'm sure he's up there proudly looking down at what everyone has continued to achieve." Tara Pender, who lives near Nottingham, was with Ms Fleming in Oslo to see the vote Pender, who was 13 when her 41-year-old father PJ Pender was killed, also paid tribute to Mr Reme."It's such a shame Kian is not here," she said, adding: "He was amazing and worked tirelessly on this for so many years."She said the result was "very bittersweet" as many relatives and survivors had died before they got the recognition of failings from the Norwegian government they had craved."It's just been such a long time coming," Ms Pender said she had spoken to several other British families of the deceased in the aftermath of the vote and they were "all delighted". The four-year-old platform was being used as accommodation for the nearby Edda rig in the Ekofisk oil field about 200 miles (320km) off the coast from Stavanger, Norway, when one of its legs broke off during a storm.A 1981 Norwegian inquiry attributed the disaster to a crack in one of the braces caused during its construction in France, but the manufacturers said it had not been maintained or anchored properly by its people received compensation at the time from the company which ran the oil rig, Phillips Petroleum, but campaigners said the Norwegian state should also accept responsibility. A University of Stavanger study published in 2025 said families and the 89 survivors were let down by official investigations, while a 2021 review by the Norwegian auditor general found "highly reprehensible" failures to hold any of the companies involved in the disaster to account, or to support families and Norwegian government apologised and funded the study to assess the impact on those government has opposed the compensation proposal put forward by a coalition of opposition parties but it passed by two votes, with further details now to be determined. Follow BBC North East on X and Facebook and BBC Cumbria on X and Facebook and both on Nextdoor and Instagram.
Business Mayor
30-04-2025
- Business
- Business Mayor
Equinor considers suing Trump administration over halted US windfarm
Norway's state energy company may take Donald Trump's administration to court after it ordered an 'unprecedented' halt to a $2.5bn (£1.87bn) windfarm project off the coast of New York. Equinor is considering its legal options after the US interior secretary, Doug Burgum, ordered the company to 'immediately halt all construction activities' on an offshore windfarm last month. Equinor is understood to have spent almost $2bn on the Empire windfarm project, which is almost a third complete and was expected to power the equivalent of 500,000 US homes once operating in 2027. Anders Opedal, the chief executive of Equinor, said: 'We have invested in Empire Wind after obtaining all necessary approvals, and the order to halt work now is unprecedented and in our view unlawful. We seek to engage directly with the US administration to clarify the matter and are considering our legal options.' The company, which is majority-owned by the Norwegian government, has a 35-year history of developing energy projects in the US. It estimates it has invested more than $60bn in US oil, gas and renewables projects. The Empire project was approved under the Biden administration in 2023 as part of a major package of support from the former president to accelerate plans to decarbonise the power grid and cut carbon emissions. However, Trump on his first day back in office in January ordered a review of offshore wind permitting and leasing, accusing the previous administration of rushed and insufficient analysis of the plans The review was seen as a blow to the burgeoning industry and wiped billions from the market value of Equinor as well as the Danish offshore wind company Ørsted, which also planned to build in US waters. Within months of opening the review, the administration issued an order for Equinor to halt construction of the project, which had begun last year and employs about 1,500 workers. The stop-work order came as a shock to many industry commentators who had believed that projects that had already secured their approvals would be safe from Trump's industry review. skip past newsletter promotion Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy. We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion In total there are four offshore wind projects under development off the US coast. In addition to the Empire project, Ørsted plans to build the Sunrise Wind project off the coast of New York and the Revolution Wind project off Rhode Island. The US energy company Dominion Energy is planning a windfarm off the Virginia coast. The New York state energy authority said the decision was fuelled by 'a shortsighted, political agenda'. Vincent Alvarez, the president of the New York City Central Labor Council, said: 'The reckless and overreaching move to halt construction that is already under way on Empire Wind threatens thousands of good union jobs and jeopardises the progress New York has made toward cleaner, more affordable energy.'
The Guardian
30-04-2025
- Business
- The Guardian
Equinor may take legal action after Trump administration halted US windfarm plan
Norway's state energy company may take Donald Trump's administration to court after it ordered an 'unprecedented' halt to a $2.5bn (£1.87bn) windfarm project off the coast of New York. Equinor is considering its legal options after the US interior secretary, Doug Burgum, ordered the energy company to 'immediately halt all construction activities' on an offshore windfarm last month. Equinor is understood to have spent almost $2bn on the Empire windfarm project, which is almost a third complete and was expected to power the equivalent of 500,000 US homes once operating in 2027. Anders Opedal, the chief executive of Equinor, said: 'We have invested in Empire Wind after obtaining all necessary approvals, and the order to halt work now is unprecedented and in our view unlawful. 'We seek to engage directly with the US administration to clarify the matter and are considering our legal options.' The energy company, which is majority owned by the Norwegian government, has a 35-year history developing energy projects in the US. It estimates that it has invested more than $60bn in US oil, gas and renewables projects. The Empire project was approved under the Biden administration in 2023 as part of a major package of support from the former US president to accelerate plans to decarbonise the power grid and cut carbon emissions. However, president Trump on his first day back in office in January ordered a review of offshore wind permitting and leasing, accusing the previous administration of a rushed and insufficient analysis of the plans The review was seen as a blow to the burgeoning industry and wiped billions from the market value of Equinor as well as the Danish offshore wind company Ørsted, which also planned to build in US waters. Within months of opening the review the administration issued an order for Equinor to halt construction of the project, which began last year and employs about 1,500 workers. The stop-work order came as a shock to many industry commentators who had believed that projects that had already secured their approvals would be safe from Trump's industry review. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion In total there are four offshore wind projects under development off the US coast. In addition to the Empire project, Ørsted plans to build the Sunrise Wind project off the coast of New York and the Revolution Wind project off Rhode Island. In addition, the US energy company Dominion Energy is planning a windfarm off the Virginia coast. The New York state energy authority said the decision was fuelled by 'a shortsighted, political agenda'. Vincent Alvarez, the president of the New York City Central Labor Council, said: 'The reckless and overreaching move to halt construction that is already under way on Empire Wind threatens thousands of good union jobs and jeopardises the progress New York has made toward cleaner, more affordable energy.'
Yahoo
01-04-2025
- Business
- Yahoo
Shell and Partners to Drive $700M Phase 2 of Northern Lights Project
Energy giant Shell plc SHEL, along with its partners TotalEnergies SE TTE and Equinor ASA EQNR, has made a final investment decision to expand the Northern Lights project to boost Europe's carbon capture and storage (CCS) infrastructure. By 2028, the second phase of the Northern Lights project will increase the CO2 storage capacity from 1.5 million to more than 5 million tons per year, highlighting the efforts made to combat climate change. Northern Lights is the world's first commercial CO2 transportation and storage project, playing a key role in Norway's plan to reduce emissions and lead global efforts in decarbonization, rolled out in 2020. The project deals with capturing CO2 from industrial sources and storing it under the seabed in the North Sea permanently. The project is jointly held by Shell, TotalEnergies and Equinor, sharing an equal holding of 33.3% each. Under the project, Equinor is responsible for managing the construction of both the onshore and offshore facilities. TotalEnergies is responsible for providing cutting-edge technical support. For Shell, this project adds another feather to its cap as it already has a strong presence in Norway. The company views this project as a starting point for a new business model that aims to reduce CO2 emissions. The first stage of the Northern Lights project was supported by the Norwegian government and had a capacity of 1.5 million tons of CO2 per year, which was completely reserved by customers in Norway and continental Europe. In September 2024, TotalEnergies announced the completion of the CO2 receiving and storage facilities of the Northern Lights Joint Venture in Norway. The first phase is now operational, with CO2 transportation set to commence this summer. Heidelberg Materials' cement factory in Brevik, Norway, will be the first to ship carbon emissions for secure storage in an underground reservoir 2.6 km beneath the seabed off Øygarden, western Norway. The second phase of the investment decision is followed by the recently signed 15-year commercial agreement between Northern Lights and Swedish district energy provider Stockholm Exergi. Under this deal, Stockholm Exergi will transport and store 900,000 tons of biogenic CO2, annually from 2028. This agreement marks Stockholm Exergi as the fifth company to partner in the project for carbon storage, following commitments from Heidelberg Materials, Celsio (Norway), Yara (Netherlands) and Ørsted (Denmark). With rising demand for carbon storage solutions, Northern Lights is in advanced talks with several large European industrial players to utilize the remaining capacity. TotalEnergies highlighted that this investment will bring about a transformation in the CCS industry, providing new prospects for large-scale carbon storage. The project will not only benefit the companies working on it but also the regulatory bodies that are working consistently toward a low-carbon future. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Equinor ASA (EQNR) : Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Forbes
24-03-2025
- Business
- Forbes
Why Norway Mega Fund Has Gone On Billion Dollar London Shopping Spree
Norway's huge soveriegn wealth fund has acquired a 25% stake in London's Covent Garden. Not since the Vikings has Norway embarked on quite the scale of U.K. invasion going on across London's West End right now. Wielding the kind of thunderous financial power that would make even Thor feel inadequate rather than an axe this time round, the world's biggest sovereign wealth fund, fuelled by decades of huge oil and gas profits from Norway' North Sea fields, has made yet another foray into prime London retail real estate. The country's investment vehicle last week agreed a circa $735 million deal to buy a quarter of the famous Covent Garden estate, a former fruit and vegetables market long since transformed into an attractive piazza of top retail, drinking, dining and entertainment that serves as of one London's most popular destinations. The estate includes more than 220 stores set within the city's theatre heartland and famous destinations such as the Royal Opera House and London Transport Museum. In the deal, Norges Bank Investment Management (NBIM), which manages $1.8 trillion globally on behalf of the Norwegian government, has bought the 25% stake in the $3.5 billion Covent Garden real estate portfolio of London-based landlord Shaftesbury Capital. But this is not NBIM's first rodeo. The deal comes just two months after Norges snapped up a $395 million stake in London's Mayfair district from Grosvenor, the Duke of Westminster's real estate company, encompassing everything from retail and F&B to swish offices. In all, it brings the Norwegian fund's investment in the U.K. capital city to $1.13 billion when combined with its long-term stake in Regent Street, jointly owned with the property arm of the U.K. Royal Family, The Crown Estate. The latter ownership has proven a huge success as the partners have used their near complete control of the retail zone to curate an offer of international names from athleisure to homewares, plus a smattering of luxury. The fund is also a shareholder in Covent Garden owner Shaftesbury, holding a 25% in the company. Similarly, Shaftesbury has control of how it manages Covent Garden while Grosvenor wields huge influence across its estate of upscale Mayfair addresses, meaning NBIM is buying into areas where it can manage future trends rather than simply react to them. Oxford Circus will be home to a new IKEA from May on the former site of Topshop's former flagship. Beyond London, Norges also became the sole owner of the enormous regional mall Meadowhall on the outskirts of northern city Sheffield last year, after striking a circa $465 million deal with co-owner British Land. Combined, Norges now owns $1.6 billion of prime U.K. retail real estate, with most of that built in less than 12 months. Who said shopping centers were dead? On the new Covent Garden stake, the head of NBIM's UK real estate arm, Jayesh Patel, said the investment 'underscores our belief in the strength of London with the portfolio complementing our other high quality West End investments', as he described Covent Garden as "one of the world's most recognized retail, leisure and cultural destinations'. Covent Garden was among the prime central London areas that drew in big crowds during the Christmas holiday season – many of them U.S. travelers making the most of the strong dollar – helping Shaftesbury record its busiest ever holiday shopping period with more than 1 million visitors a day to its portfolio, which spreads from Covent Garden to the adjacent Chinatown and Soho districts. It is also a far cry from the bleak days post-pandemic days when London's West End, most notably Oxford Street, faced a huge crisis as visitor numbers plummeted and Oxford Street became overrun with American Candy stores. Local government and landlords have spent much of the past five years unwinding that toxic legacy, largely returning Oxford Street to a major destination for international flagships, the latest of which will be an IKEA store at the famous crossroads between Oxford Street and Regent Street, slated to open in May on the site of the former Topshop flagship. In the meantime, Norway, which sends the traditional Christmas tree that illuminates Trafalgar Square annually, has never had such a strong hold on the future of the capital.
