The Norwegian firm reports decline in several items compared to the same quarter of 2021 but predicts fine advancement in the rest of 2022, for which both floating wind projects and high energy prices show promise.
Frontline is not taking the ”moral high ground” in regards to Russia but complies with the existing sanctions. Large amounts of Russian oil are still passing through the market, said chief executive Tuesday.
Maersk Decom, established by Maersk Supply Service and Maersk Drilling in an attempt to benefit from a large market for decommissioning assets within the oil industry, shuts down. Chief executive left several months ago.
The price increases occurred Thursday afternoon and evening before sliding back down in the early hours of Friday on rumors that China plans to rebuild its strategic crude oil inventories using cheap Russian oil.
In the fall, TotalEnergies postponed investment decisions on Valdemar Bo Syd and Halfdan Nord projects by several years. In light of the war in Ukraine, however, the oil giant is once again looking into expediting the plans.