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☆ Norwegian companies see stable outlook, central bank survey shows
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

OSLO, March 16 (Reuters) - Activity in the Norwegian economy is levelling off and companies expect business prospects to be stable in the first half of 2023, a central bank business survey showed on Thursday. The quarterly survey provides key input for the central bank, which in January said it would "most likely" raise its key policy interest rate in March. "Developments are slightly stronger than contacts expected in the previous survey, but there is considerable variation across sectors," Norges Bank said in a statement. "The share of contacts experiencing recruitment difficulties is much lower than in November, and fewer contacts report capacity constraints. At the same time, many contacts still report full capacity utilisation and labour shortages."

☆ Themed cruises are more popular than ever and it's leading to ships selling out in record time
▼ + stars: | 2023-03-16 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Norwegian Cruise Line's themed cruises have been selling out in record time and Holland America plans to grow its partnership with charter companies. The passionate fans help cruise lines fill up ships and are some of the most loyal in the industry. Will ByingtonThese repeat bookings are music to the cruise lines' ears — it's a mutually beneficial operation for both the themed cruise production companies and the cruise lines themselves. To pull off these festivals at sea, themed cruise providers charter full ships from various cruise lines. "I think the themed cruise industry is going to grow even faster [than the general cruise industry]," Hearing said.

"I was quite angry honestly because the court crew wouldn't let us warm up before the match," Ruud said. "I don't know if it was good or not but Netflix was there catching it all. Canada's Auger Aliassime feels the impact of the show most acutely in the U.S., where Netflix has its biggest market. "I thought the episode was really great but there were a couple things that were missed," the American said. "But it's been fun to be part of something Netflix has made together with (the Formula One) "Drive to Survive" and the golf series ("Full Swing").

Equinor became Europe's top natural gas supplier last year after exports from Russia were mostly choked off following Moscow's invasion of Ukraine. Europe cut demand, increased domestic output and imported liquefied natural gas (LNG) at huge cost in response to the drop in Russian gas supplies, which accounted for around half of the region's supply in 2021. "Trying to replace 150 billion cubic metres of (Russian) gas is a massive task. "The weather in Asia can set the gas price in Europe," Opedal said. Equinor produced over 2 million barrels of oil equivalent of oil and gas in 2022, when it reported a record adjusted operating profit of $75 billion on the back of soaring oil and gas prices.

☆ Equinor aims to restart Norway methanol plant in about four weeks
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

Companies Equinor ASA FollowConocophillips FollowOSLO, March 7 (Reuters) - Equinor (EQNR.OL) aims to restart Europe's largest methanol plant at Tjeldbergodden in about four weeks, a spokesperson for the Norwegian company said on Tuesday. Equinor shut the plant on Norway's west coast in February to install a mercury removal unit. "We are planning for a safe (production) start-up... We expect this to take around four weeks from now," said a spokesperson. Tjeldbergodden has an annual methanol production capacity of around 900,000 tonnes, accounting for about a quarter of Europe's total, according to Equinor. Equinor has 82.01% stake in the plant and ConocoPhillips (COP.N) owns the remaining 17.99%.

☆ Why the West hasn’t gone after Russian nuclear energy
▼ + stars: | 2023-03-06 | by ( Clare Sebastian | ) edition.cnn.com time to read: +5 min

Russia’s state-owned nuclear energy monopoly Rosatom, which exports and enriches uranium as well as builds nuclear power stations around the world, has been in control of Europe’s largest nuclear plant in Ukraine’s Zaporizhzhia region since Russian forces seized it a year ago. Experts say Rosatom remains protected by the vital role it plays in global nuclear power, and the fact it can’t easily be replaced. In 2021, the United States relied on the Russian nuclear monopoly for 14% of the uranium that powered its nuclear reactors. The Akkuyu nuclear power plant as its construction continues in November 2022 Serkan Avci/Anadolu Agency/Getty ImagesSuch dependency can trump other considerations. It is also one of only several EU countries that rely on nuclear energy for more than 40% of their electricity and it has a long-term financing deal with Rosatom to build a nuclear power plant.

☆ Norwegian Cruise Line shares fall 10% as soft outlook, wider losses eclipse strong demand
▼ + stars: | 2023-02-28 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Norwegian Cruise Line shares fell more than 10% on Tuesday after the company posted wider losses than expected and offered soft guidance for the year, despite persistent travel demand. The cruise company reported fourth quarter losses of $1.04 per share, more than analysts' estimates of 85 cents. Norwegian is projecting losses of 45 cents per share in the first quarter, 10 cents higher than Wall Street had anticipated. "We've seen very, very strong record – near record booking levels dating back to November," said Del Rio. Royal Caribbean saw its stock jump after posting narrower than expected fourth quarter losses and bookings earlier in February.

☆ Stocks making the biggest moves midday: Norwegian Cruise Line, Target, Advance Auto Parts and more
▼ + stars: | 2023-02-28 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Hims & Hers Health — Shares of the telehealth stock soared by 17% after the company reported quarterly results that surpassed estimates. However, Target's full-year earnings guidance came in below expectations. Zoom's full-year revenue guidance came in lighter than expected, but topped estimates on its earnings guidance for 2023. Norwegian Cruise Line Holdings — The cruise company fell 12% after reporting a wider-than-expected loss for the fourth quarter. Analysts surveyed by Refinitiv had forecast an 85 cents per share loss on revenue of $1.5 billion.

☆ Thunberg, other protesters block Norway energy ministry over wind farms
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

The reason for the action is that the wind turbines at Fosen, which the Supreme Court has said are illegal, have not been demolished. NTB/Ole Berg-Rusten via REUTERSOSLO, Feb 27 (Reuters) - Environmental campaigner Greta Thunberg and dozens of other activists on Monday blocked entrances to Norway's energy ministry, protesting against wind turbines built on land traditionally used by indigenous Sami reindeer herders. Norway's supreme court in 2021 ruled that two wind farms built in central Norway violated Sami rights under international conventions, but the turbines remain in operation more than 16 months later. "I am here to support the struggle for human rights and indigenous rights," Thunberg told Reuters while sitting outside the ministry's main entrance with other demonstrators. The government has said the ultimate fate of the wind farms is a complex legal and political quandary despite the supreme court ruling and is hoping to find a compromise.

☆ A single mother escaped Kyiv with her 5-year-old at the onset of the Russian invasion. She is one of 8 million refugees who can only dream of returning home.
▼ + stars: | 2023-02-26 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Kseniya Kharchenko and her then 5-year-old son fled Kyiv a day after the start of the invasion. And yet, Before the war, her ex-husband had called her paranoid over her fears of an invasion — Kharchenko said she was waiting for the war to begin for months. "I was so frightened, I really was," Kharchenko told Insider, thinking about how she and her son would survive. The act of protecting her son's life, Kharchenko told Insider, brings her strength and gives her purpose when she feels overwhelmed by the events of the last year. I have a fantasy," Kharchenko told Insider.

☆ Norway's Pettersen named Europe captain for 2024 Solheim Cup
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

Feb 21 (Reuters) - Suzann Pettersen will return as captain of the European team at the Solheim Cup in 2024, the Ladies European Tour (LET) announced on Tuesday, with the Norwegian saying the move will offer players "more consistency". Pettersen is already serving as captain for the 2023 European team that will face the United States at the Sept. 22-24 Solheim Cup at Finca Cortesin in Andalucia, Spain. "I love the Solheim Cup and it's such a unique honour to be asked to captain Team Europe again in 2024," Pettersen said. Europe are champions after edging the United States 15-13 at Inverness Club in Ohio in 2021 to retain the Solheim Cup. Robert Trent Jones Golf Club in Gainesville, Virginia, will host the 2024 Solheim Cup.

☆ I've sailed on 4 different cruise ships each from a different cruise line in the last year. Here are my top 6 tips the make the most out of a trip as someone who doesn't like to travel by sea.
▼ + stars: | 2023-02-20 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

Pre-book onboard dining and entertainment as soon as possible. Brittany Chang/InsiderAll of my cruise travels have been on sailings exclusive to media and booking agents. As a result, my trips have either been covered or discounted by the cruise line. In my experience, you may have to pre-reserve your onboard dining or entertainment. If you're a picky eater or have a set schedule, I recommend booking your meals and shows as soon as possible.

☆ The most dangerous cruise routes, ports, and destinations are in parts of the world where conditions are unpredictable — and help is nowhere nearby, travel analysts say
▼ + stars: | 2023-02-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

But some cruise destinations and routes are prone to dangerous conditions and risky activity. These are some of the most dangerous cruise locations around the world. AntarcticaThe world's southernmost continent is among the most beautiful — and dangerous — cruise destinations, according to Chiron and Klein. Cruise passengers during a lifeboat drill in the Northwest Passage near Nunavut, Canada. National Park Service via APCruise lines avoid dangerous portsWhile rough seas and high winds can make ocean travel dangerous, uncertainties on land pose their own risks for visitors.

☆ European shares up as travel stocks shine, Thyssenkrupp slides
▼ + stars: | 2023-02-14 | by ( Shreyashi Sanyal | ) www.reuters.com time to read: +3 min

The continent-wide STOXX 600 index (.STOXX) rose 0.4%, while European travel & leisure stocks (.SXTP) advanced 0.8%. TUI's German-listed shares (TUIGn.DE) rose 2.5%, with its shares listed in London adding 2.5% after the company reported more bookings and higher first-quarter revenue. In Europe, a flash reading of fourth quarter GDP is also on the radar on growing hopes that the euro zone economy most likely avoided a recession. The STOXX 600 has risen over 9% so far this year led by better-than-expected earnings and a brighter outlook for the euro zone economy. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Savio D'Souza and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ The claim by a discredited journalist that the US secretly blew up the Nord Stream pipeline is proving a gift to Putin
▼ + stars: | 2023-02-09 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

Once-celebrated journalist Seymour Hersh made unproven claims the US blew up the Nord Stream pipelines. In Russia, Hersh's story was immediately greeted with a sense of vindication. Biden had said he opposed opening the Nord Stream 2 pipeline and saying the US could "bring an end to" it if Russia invaded Ukraine. The invasion did take place, and officials in Germany — where the pipeline was due to pump its gas — axed the project before Nord Stream 2 moved any gas. Nord Stream 1 kept pumping until the explosion.

With net profit for the year of $28.7 billion, up from $8.6 billion a year earlier, Equinor joined global oil and gas majors such as ExxonMobil (XOM.N), Shell (SHEL.L) and BP (BP.L) in reporting record returns for 2022. Majority state-owned Equinor (EQNR.OL) became Europe's largest supplier of natural gas last year as Russia's Gazprom (GAZP.MM) cut deliveries over the West's support for Ukraine, sending European gas prices to all-time highs. But gas prices have tumbled in 2023 and Equinor's Oslo-listed stocks have fallen 9% year-to-date, underperforming a 3.3% rise in European petroleum stocks (.SXEP). The board reaffirmed a regular share buyback plan of $1.2 billion per year and said it would make an extraordinary buy back in 2023 of $4.8 billion, for a total of $6 billion. Equinor's previous adjusted earnings record was $36.2 billion in 2008, when North Sea oil prices hit record highs.

☆ Equinor shares soar on record 2022 profit, Q4 beat
▼ + stars: | 2023-02-08 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +4 min

Net profit for the year was $28.7 billion, up from $8.6 billion a year earlier. The company joined global oil and gas majors such as ExxonMobil (XOM.N), Shell (SHEL.L) and BP (BP.L) in reporting record bottom lines. Equinor's previous adjusted earnings record amounted to $36.2 billion in 2008, when the price of North Sea oil had risen to record highs. Equinor said it expected capital spending for 2023 at between $10 billion and $11 billion, broadly in line with a previous plan. It raised it spending projection for the next three years to $13 billion per year from $12 billion seen before.

☆ Equinor posts record profit for 2022, Q4 beats expectation
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ints Kalnins/File PhotoOSLO, Feb 8 (Reuters) - Equinor (EQNR.OL) on Wednesday posted a record $74.9 billion adjusted operating profit for 2022, more than double the previous record thanks to soaring gas prices and with fourth-quarter results beating analyst expectations. The oil and gas producer's adjusted earnings before tax and interest for October-December rose to $15.1 billion from $15 billion a year earlier, beating the $14.4 billion predicted in a poll of 25 analysts compiled by Equinor. The majority state-owned company last year became Europe's largest supplier of natural gas as Russia's Gazprom (GAZP.MM) cut deliveries amid the West's support for Ukraine, sending European gas prices to all-time highs. Equinor's previous adjusted earnings record amounted to $36.2 billion in 2008, when the price of North Sea oil rose to record highs. Gas prices have tumbled in the new year, however, and Equinor's Oslo-listed stocks have fallen 15% year-to-date, underperforming a 1% rise in European petroleum stocks (.SXEP).

☆ Fertiliser boom reveals food security price power
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 8 (Reuters Breakingviews) - A top fertiliser maker has emerged as the surprise winner of Europe’s energy crisis. Food security concerns helped Yara weather the crisis. That and a war in potash and wheat exporter Ukraine created scarcity, which drove up the price of its much-desired products. Before Wednesday’s 5% share bump, it traded on just 4 times its expected 2023 earnings. Now that Yara has proved it can weather a major crisis, this gap is likely to narrow.

☆ EU considers ban on 'forever chemicals', urges search for alternatives
▼ + stars: | 2023-02-07 | by ( Ludwig Burger | ) www.reuters.com time to read: +5 min

"A ban on PFAS would reduce quantities of PFAS in the environment over the long term. Once the ban is in force, companies will be given between 18 months and 12 years to introduce alternatives to the more than 10,000 PFAS affected, depending on the availability of alternatives, according to the draft proposal. The FPP4EU group of 14 companies that make and use PFAS has said that finding alternatives is a long and difficult process. Within the European Chemicals Agency (ECHA), two scientific committees for Risk Assessment and for Socio-Economic Analysis will now review whether the proposal to ban PFAS conforms with wider EU regulation of chemicals known as REACH, followed by a scientific evaluation and consultation with the industry. In August, the United States government said it will propose designating certain forever chemicals as hazardous substances under the U.S. Superfund programme.

[1/3] Andrei Medvedev, a former commander of Russia's Wagner mercenary group poses for a picture during an interview in Oslo, Norway February 1, 2023. REUTERS/Janis LaizansOSLO, Feb 3 (Reuters) - Norwegian police said on Friday they intend to continue to interrogate former Wagner mercenary group commander Andrei Medvedev, who fled from Russia to Norway last month after fighting in the war in Ukraine. "Medvedev gives the impression that he wants to continue to say more" about his time with Wagner, police said. Wagner forces have been locked in a bloody battle of attrition against Ukrainian forces in Ukraine's eastern Donetsk region. Wagner has said Medvedev had worked in a "Norwegian unit" of Wagner and had "mistreated prisoners".

☆ Norway wealth fund posts record $164 bln loss
▼ + stars: | 2023-01-31 | by ( Victoria Klesty | ) www.reuters.com time to read: +2 min

[1/3] Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. The previous largest loss was 633 billion crowns in 2008. The loss ends a record-breaking streak for the fund, where annual returns exceeded one trillion crowns in each of the three years from 2019 to 2021, amounting to more than four trillion crowns combined. Reuters GraphicsStill, despite the record loss, the value of the fund rose overall, by 89 billion crowns or $8.9 billion year-on-year, partly due to the weak Norwegian currency and partly due to record 1.1 trillion crowns of cash inflows into the fund. The inflows in 2022 were nearly three times the previous record, of 386 billion crowns, set in 2008.

☆ Norway wealth fund posts record $164 billion loss
▼ + stars: | 2023-01-31 | by ( Victoria Klesty | ) www.reuters.com time to read: +3 min

[1/3] Norway wealth fund CEO Nicolai Tangen presents the results for 2022, at a news conference in Oslo, Norway January 31, 2023. The previous largest loss was 633 billion crowns in 2008. It ends a record-breaking streak for the fund, where annual returns exceeded one trillion crowns in each of the three years from 2019 to 2021, amounting to more than four trillion crowns combined. Still, despite the record loss, the value of the fund rose overall by 89 billion crowns or $8.9 billion year-on-year, partly due to the weak Norwegian currency and a record 1.1 trillion crowns of cash inflows. The inflows in 2022 were nearly three times the previous record, of 386 billion crowns, set in 2008.

☆ Norway discovers trove of metals, minerals and rare earths on its seabed
▼ + stars: | 2023-01-30 | by ( Reuters Laura Paddison | Laura Paddison | ) edition.cnn.com time to read: +3 min

A Norwegian study has found a “substantial” amount of metals and minerals ranging from copper to rare earths on the seabed of its extended continental shelf, authorities said on Friday in their first official estimates. “Of the metals found on the seabed in the study area, magnesium, niobium, cobalt and rare earth minerals are found on the European Commission’s list of critical minerals,” the Norwegian Petroleum Directorate (NPD), which conducted the study, said in a statement. About 24 million tonnes of magnesium and 3.1 million tonnes of cobalt are estimated to be in manganese crusts grown on bedrock over millions of years, as well as 1.7 million tonnes of cerium, a rare earth element used in alloys. The manganese crusts are also estimated to contain other rare earth metals, such as neodymium, yttrium and dysprosium. “Costly, rare minerals such as neodymium and dysprosium are extremely important for magnets in wind turbines and the engines in electric vehicles,” the NPD said.

☆ Norway finds 'substantial' mineral resources on its seabed
▼ + stars: | 2023-01-27 | by ( Nerijus Adomaitis | ) www.reuters.com time to read: +2 min

The resources estimate, covering remote areas in the Norwegian Sea and Greenland Sea, showed there were 38 million tonnes of copper, almost twice the volume mined globally each year, and 45 million tonnes of zinc accumulated in polymetallic sulphides. About 24 million tonnes of magnesium and 3.1 million tonnes of cobalt are estimated to be in manganese crusts grown on bedrock over millions of years, as well as 1.7 million tonnes of cerium, a rare earth metal used in alloys. The manganese crusts are also estimated to contain other rare earth metals, such as neodymium, yttrium and dysprosium. "Costly, rare minerals such as neodymium and dysprosium are extremely important for magnets in wind turbines and the engines in electric vehicles", the NPD said. ENVIRONMENTAL IMPACTEnvironmental groups have called on Norway to postpone its seabed mineral exploration until more studies are conducted to understand the organisms living on the seabed and the impact of mining on them.

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