Norway’s oil and gas divestment spares biggest producers
Mikael Holter, World Oil, March 8, 2019
Big Oil dodged a bullet.
Norway took a partial step in divesting oil and gas stocks in its massive $1-trillion wealth fund, approving the sale of smaller exploration companies while sparing the biggest producers such as Royal Dutch Shell Plc and Exxon Mobil Corp. After more than a year of deliberation, the government on Friday approved excluding 134 companies classified as exploration and production companies by FTSE Russell, including Anadarko Petroleum Corp., Chesapeake Energy Corp., Cnooc Ltd. and Tullow Oil Plc. The proposal would see the fund sell about $7.5 billion in stocks.
Russia sets out stringent new rules for foreign ships on the Northern Sea Route
Atle Staalesen, The Independent Barents Observer -March 8, 2019
The Russian government has elaborated a set of rules for foreign naval vessels sailing on the Northern Sea Route, according to Izvestia. The newspaper has obtained a copy of the document that states that all vessels are obliged to comply. According to the new rules, a foreign state must send a notification about a voyage at least 45 days ahead of its start, and include the name of the ship, its objective, route and period of sailing, as well as ship characteristics such as length, width, deadweight, draft and type of engine power and the name of the ship’s captain. Ships will be required to have on board a Russian maritime pilot. In case the voyage is not conducted in line with the regulations, Russia will have the right to take extraordinary measures including its forced halt, arrest and — in extreme cases — elimination, Izvestia writes.
From the Washington Examiner, Daily on Energy:
POMPEO TO HIGHLIGHT CERAWEEK ENERGY CONFERENCE: Speaking of Pompeo, he is set to headline the global energy industry’s biggest annual conference, CERAWeek, which begins Monday. Pompeo is the first U.S. secretary of state to address the conference, with a speech focused on “how America’s energy revolution strengthens national security in an age of renewed great power competition.”
Other scheduled speakers include EPA Administrator Andrew Wheeler, Energy Secretary Rick Perry, Senate Energy and Natural Resources Committee leaders Lisa Murkowski and Joe Manchin, OPEC Secretary General Mohammad Sanusi Barkindo, former Colorado Gov. John Hickenlooper — a newly declared 2020 presidential candidate, and more.
