Latest news with #OsloStockExchange
Local Norway
23-07-2025
- Business
- Local Norway
Norway energy firm Equinor takes $1 bn hit on US wind
Equinor chief executive Anders Opedal said the company's net operating income had been hit by a $955 million impairment related to its Empire Wind project "due to regulatory changes" affecting synergies in future offshore wind farms, as well as "increased exposure to tariffs". Construction of the first phase of Empire Wind, a complex of 54 turbines capable of powering 500,000 homes in Brooklyn, was temporarily halted by the US administration in mid-April. US President Donald Trump has repeatedly expressed opposition to wind energy -- claiming turbines are unsightly and dangerous -- and signed a series of executive orders targeting the sector shortly after returning to the White House in January. Those included a temporary freeze on federal permitting and loans for offshore and onshore wind projects. But the administration reversed its decision to block the project in May. "We continue to progress our portfolio in renewables, and the Empire Wind 1 project development is back in execution," Opedal said on Wednesday. Of the total $955 million impairment, Opedal said $763 million related to the Empire Wind 1 project and the South Brooklyn Marine Terminal, while the rest is tied to the second phase of the project. "The construction of the terminal and port facilities was based on the assumption that several wind farms would use them. This is not very relevant under current conditions," Opedal said during a press conference. "The impairment also includes the impact of higher steel tariffs," set at 50 percent by the administration of US President Donald Trump, he added, while stressing that Empire Wind 1 remained "a profitable project". Advertisement The depreciation weighed on second-quarter results, with Equinor reporting a 30 percent year-on-year drop in net profit to $1.3 billion. Performance was also affected by the decline in oil prices, which did not suffice to offset the rise in natural gas prices and increased production, which is nearing 2.1 million barrels of oil equivalent per day. In early morning trading, Equinor shares fell 0.5 percent on the Oslo Stock Exchange, while the broader market was up 0.35 percent.
Int'l Business Times
23-07-2025
- Business
- Int'l Business Times
Equinor Takes $1 Bn Hit From US Wind Farm Regulations, Tariffs
Norwegian energy company Equinor said on Wednesday that its giant offshore wind project in New York -- once halted by the US administration -- had lost nearly $1bn in value following regulatory changes and tariffs. Equinor chief executive Anders Opedal said the company's net operating income had been hit by a $955 million impairment related to its Empire Wind project "due to regulatory changes" affecting synergies in future offshore wind farms, as well as "increased exposure to tariffs". Construction of the first phase of Empire Wind, a complex of 54 turbines capable of powering 500,000 homes in Brooklyn, was temporarily halted by the US administration in mid-April. US President Donald Trump has repeatedly expressed opposition to wind energy -- claiming turbines are unsightly and dangerous -- and signed a series of executive orders targeting the sector shortly after returning to the White House in January. Those included a temporary freeze on federal permitting and loans for offshore and onshore wind projects. But the administration reversed its decision to block the project in May. "We continue to progress our portfolio in renewables, and the Empire Wind 1 project development is back in execution," Opedal said on Wednesday. Of the total $955 million impairment, Opedal said $763 million related to the Empire Wind 1 project and the South Brooklyn Marine Terminal, while the rest is tied to the second phase of the project. "The construction of the terminal and port facilities was based on the assumption that several wind farms would use them. This is not very relevant under current conditions," Opedal said during a press conference. "The impairment also includes the impact of higher steel tariffs," set at 50 percent by the administration of US President Donald Trump, he added, while stressing that Empire Wind 1 remained "a profitable project". The depreciation weighed on second-quarter results, with Equinor reporting a 30 percent year-on-year drop in net profit to $1.3 billion. Performance was also affected by the decline in oil prices, which did not suffice to offset the rise in natural gas prices and increased production, which is nearing 2.1 million barrels of oil equivalent per day. In early morning trading, Equinor shares fell 0.5 percent on the Oslo Stock Exchange, while the broader market was up 0.35 percent.
Yahoo
01-07-2025
- Business
- Yahoo
Prospectus Approved for Listing of DNO's USD 600 Million Bonds on Oslo Stock Exchange
Oslo, 1 July 2025 – DNO ASA, the Norwegian oil and gas operator, today announced that the Financial Supervisory Authority of Norway on 1 July 2025 approved the prospectus prepared in connection with the listing on the Oslo Stock Exchange of the Company's 8.5 percent USD 600 million senior unsecured callable bonds issued on 27 March 2025 with maturity in March 2030 (ISIN: NO0013511113). Trading in the bonds is expected to commence shortly. The prospectus dated 1 July 2025 is available on the Company's website – For further information, please contact:Media: media@ – DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d'Ivoire and Yemen. More information is available at This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. – This release does not constitute any offer or solicitation to sell or purchase any securities. The release may not be released, published or distributed in the United States of America or any other jurisdiction where release, publication or distribution would be prohibited or require any registration or filing acts or 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
Yahoo
25-06-2025
- Business
- Yahoo
Scatec ASA: Subscriptions for the Employee Share Purchase Programme 2025
Oslo, 25 June 2025: As announced on 16 June 2025, Scatec offered participants the opportunity to purchase shares with a trading value of between NOK 10,413 and NOK 104,128. The subscription period was from 16 - 25 June 2025. The price per share has been set at NOK 89.45, based on the average volume-weighted share price on the Oslo Stock Exchange over the last five trading days during the subscription period. In total, employees have subscribed for 68,533 shares under the share purchase programme. The allocation of shares and delivery to employees is expected to take place by 4 July 2025. See attachment for an overview of the number of shares to be allocated to primary insiders who have subscribed as per end of the subscription period, as well as the notifications of the transactions in accordance with the Market Abuse Regulation Article 19. For further information, please contact:Andreas Austrell, SVP 974 38 686 About Scatec Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 6.2 GW in operation and under construction across five continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of 'Improving our Future'. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'. To learn more, visit or connect with us on LinkedIn. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachment Primary insiders subscription - Scatec
Yahoo
05-06-2025
- Business
- Yahoo
DNO Raises USD 400 Million in Hybrid Bonds
5 June 2025 – DNO ASA, the Norwegian oil and gas operator, today completed a private placement of USD 400 million of subordinated hybrid bonds with a coupon rate of 10.75 percent. The hybrid bonds will have the first call at 100 percent of nominal value after 5.5 years, with coupon step-up after six years and maturity in 2085. The bond placement met strong investor demand across US, Nordic and international markets and was significantly oversubscribed. 'This first hybrid bond issue capitalizes on our 24-year flawless record in the bond market,' said DNO's Executive Chairman Bijan Mossavar-Rahmani. 'Given its features, including treatment as equity not debt on DNO's balance sheet, a hybrid bond fits well with our financing structure following closing of the Sval Energi Group AS acquisition later this month,' he added. Settlement is expected on or about 17 June 2025, subject to customary conditions precedent. An application will be made to list the bonds on the Oslo Stock Exchange. Proceeds from the new bond issue will be used to refinance financial indebtedness in Sval Energi and for general corporate purposes. Arctic Securities AS, DNB Carnegie, part of DNB Bank ASA, and Pareto Securities AS acted as Joint Bookrunners for the transaction. AGP Advokater AS acted as legal advisor to the Company. – For further information, please contact:Media: media@ – DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d'Ivoire and Yemen. More information is available at – This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This release does not constitute any offer or solicitation to sell or purchase any securities. The release may not be released, published or distributed in the United States of America or any other jurisdiction where release, publication or distribution would be prohibited or require any registration or filing acts or 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
