Latest news with #OSLO
Yahoo
7 days ago
- Politics
- Yahoo
A former security guard at the US Embassy in Norway is accused of spying for Russia and Iran
OSLO, Norway (AP) — A former security guard at the U.S. Embassy in Norway has been indicted by prosecutors there on suspicion of espionage after he allegedly spied for Russia and Iran, state broadcaster NRK said Wednesday. The Norwegian man, whose name has not been made public, was arrested last November on suspicion of having damaged national security. He is accused of handing over details about the embassy's diplomats, its floor plans and security routines, among other things, NRK reported. His defense attorney, Inger Zadig, said her client acknowledges the indictment's facts but denies any criminal guilt. 'At its core, this case concerns legal interpretation — specifically, whether, and to what extent, the information in question was 'classified' under the law, and whether it was capable of harming fundamental national interests,' she wrote in an email to The Associated Press. 'If not, then sharing the information is not a criminal offense. Our client did not hold a security clearance, and his access to information that could threaten vital national interests was more or less non-existent. These issues will be thoroughly addressed in court.' The broadcaster reported that America's ties to Israel and the war in Gaza prompted the man to contact Russia and Iran. The defendant faces up to 21 years in prison, NRK reported. The U.S. Embassy and the prosecutor's office did not respond to AP's requests for comment. At the time of his arrest, the man had been studying for a bachelor's degree in security and preparedness at Norway's Arctic University, UiT. It is a second such case at UiT in recent years, according to NRK. One of the people the West swapped with Russia in a major prisoner exchange last year was a UiT guest researcher who claimed to be a Brazilian named José Assis Giammaria, arrested on espionage allegations in 2022. The police revealed him to be Russian, Mikhail Valeryevich Mikushin. Norway has a 198-kilometer (123-mile) long border with Russia in the Arctic. Since Russia's full-scale invasion of Ukraine in February 2022, Norway has heavily restricted entry for Russian nationals. Last year, the Norwegian government said it was considering a plan to build a fence along all or part of its border with Russia. Solve the daily Crossword
Reuters
7 days ago
- Business
- Reuters
Equinor Q2 core profit down 13% on weaker oil price
OSLO, July 23 (Reuters) - Equinor's ( opens new tab second-quarter profit fell as expected by 13% from a year earlier, its earnings report showed on Wednesday, as declining oil prices outweighed a rise in the price of gas. The Norwegian energy group's adjusted earnings before tax for April-June fell to $6.54 billion from $7.48 billion a year earlier, in line with the $6.53 billion predicted in a poll, opens new tab of 21 analysts compiled by the company. Equinor maintained a projection that its oil and gas output will grow by 4% this year compared to 2024 and kept its forecast for capital expenditure in 2025 of $13 billion. "We are on track to deliver production growth in 2025 in line with our guidance," CEO Anders Opedal said in a statement. In February, Equinor followed rivals such as Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab in promising higher oil and gas output while scaling back investment in renewables, citing challenging market conditions for the green energy transition. Equinor in the second quarter pumped 2.1 million barrels of oil equivalent per day (boed), slightly ahead of expectations in the analyst poll for 2.06 million boed, and up from 2.05 million boed a year earlier. The company in 2022 overtook Russia's Gazprom ( opens new tab as Europe's biggest supplier of natural gas when Moscow's invasion of Ukraine upended decades-long energy ties. Equinor's share price has declined by 1.5% so far this year, lagging a 10% rise in the broader European energy stock index (.SXEP), opens new tab. The company's oil sold for an average price of $63.0 per barrel in the second quarter, down 19% from a year earlier, while its European piped gas price rose 21% to $12 per million British thermal units. The majority state-owned company maintained its quarterly dividend at $0.37 per share, and confirmed plans to return to shareholders a total of $9 billion this year, including $5 billion in share buybacks.
Yahoo
7 days ago
- Business
- Yahoo
Equinor Q2 core profit drops as expected on lower oil price
OSLO (Reuters) -Equinor's second-quarter profit fell as expected by 13% from a year earlier, its earnings report showed on Wednesday, as declining oil prices outweighed a rise in the price of gas. The Norwegian energy group's adjusted earnings before tax for April-June fell to $6.54 billion from $7.48 billion a year earlier, in line with the $6.53 billion predicted in a poll of 21 analysts compiled by Equinor. Equinor maintained a projection that its oil and gas output will grow by 4% this year compared to 2024 and kept its forecast for capital expenditure in 2025 of $13 billion. "We are on track to deliver production growth in 2025 in line with our guidance," CEO Anders Opedal said in a statement. In February, Equinor followed rivals such as Shell and BP in promising higher oil and gas output while scaling back investment in renewables, citing challenging market conditions for the green energy transition. 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
Reuters
23-07-2025
- Business
- Reuters
Equinor Q2 core profit drops as expected on lower oil price
OSLO, July 23 (Reuters) - Equinor's ( opens new tab second-quarter profit fell as expected by 13% from a year earlier, its earnings report showed on Wednesday, as declining oil prices outweighed a rise in the price of gas. The Norwegian energy group's adjusted earnings before tax for April-June fell to $6.54 billion from $7.48 billion a year earlier, in line with the $6.53 billion predicted in a poll, opens new tab of 21 analysts compiled by Equinor. Equinor maintained a projection that its oil and gas output will grow by 4% this year compared to 2024 and kept its forecast for capital expenditure in 2025 of $13 billion. "We are on track to deliver production growth in 2025 in line with our guidance," CEO Anders Opedal said in a statement. In February, Equinor followed rivals such as Shell (SHEL.L), opens new tab and BP (BP.L), opens new tab in promising higher oil and gas output while scaling back investment in renewables, citing challenging market conditions for the green energy transition.
Reuters
22-07-2025
- Business
- Reuters
Norway's Vaar Energi to cut spending as profits rise less than forecast
OSLO, July 22 (Reuters) - Norwegian oil firm Vaar Energi ( opens new tab said on Tuesday it plans to cut costs and maintain full-year dividend payments of $1.2 billion this year and next, as it reported smaller-than-expected profit growth for the second quarter. Vaar's earnings before interest and tax for the April to June quarter rose to $1.2 billion from $992 million a year earlier, lagging the average $1.34 billion forecast in a company-compiled poll of nine analysts. The company expects its output to rise to about 430,000 barrels of oil equivalent per day in the fourth quarter as new fields ramp up from some 350,000 boepd currently, aiming for "transformative growth" in 2025, CEO Nick Walker said. Vaar, which is majority owned by Italy's Eni ( opens new tab, said it plans to cut spending by $500 million over the period of 2025-2026. "All our big projects have come to an end, and 65% of our future projected capital spend is uncommitted, so we have choices, if (there are) lower prices, to slow things down or to make the projects better," Walker told reporters. The industry faces less inflationary pressure than six months ago, with some costs, such as drilling rig rates, going down, he told analysts in a separate call. Walker also said the oil market had remained strong, despite rising supply and international trade disputes, and that Vaar has a portfolio of some 30 new projects it can start in the coming years, including more than 10 to be approved in 2025. North Sea oil was down 63 cents, or 0.91%, at $68.58 a barrel by 0810 GMT on Tuesday amid concerns over a brewing trade war between major crude consumers the U.S. and the European Union. Vaar's Oslo-listed shares were up 1.9% by 0854 GMT, outperforming a 0.4% decline in European energy stocks (.SXEP), opens new tab.
