Sweden

International Petroleum accelerates Blackrod and completes USD 450mn bond refinancing

International Petroleum Corporation exceeded its operational targets in the third quarter, strengthened its financial position and brought forward production from its Blackrod project in Canada.

TGS signs three-year strategic agreement with Chevron for offshore seismic acquisition

Norwegian provider TGS will mobilise its marine seismic resources for at least 18 months for Chevron under a three-year capacity agreement covering exploration and development projects.

DNO strengthens position in Verdande through asset swap with Aker BP

Norwegian firm DNO increases its stake in the developing Verdande field by offloading non-core assets to Aker BP in a cash-free transaction.
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Norway: Rejection of Wind Farm Project in Protected Sami Area

Norway's energy regulator has rejected an application to build a wind farm in the northern Finnmark region due to potential environmental impacts and threats to Indigenous Sami culture.

Vattenfall raises operating profit to SEK21.47mn amid nuclear repositioning

Swedish group Vattenfall improves its underlying operating result despite the end of exceptional effects, supported by nuclear and trading activities, in a context of strategic adjustment on European markets.

Scatec cuts debt by 27% and reaches record 3,392 MW in projects

Scatec strengthened growth in the third quarter of 2025 with a significant debt reduction, a rising backlog and continued expansion in emerging markets.
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Norwegian fund generates €88 billion in gains through financial markets

Norway's sovereign wealth fund generated a €88 billion profit in the third quarter, largely driven by equity market performances in commodities, telecommunications, and finance.

Equinor posts adjusted operating income of USD 6.21bn in Q3 2025

Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.

Iberdrola installs its first offshore HVDC station in the United Kingdom

Iberdrola has installed the high-voltage direct current converter station for its East Anglia THREE wind farm, marking a key milestone in a €5 billion project.
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Norway prevails at ECHR over offshore oil licensing dispute

The European Court of Human Rights ruled that Norway’s deferral of a climate impact assessment did not breach procedural safeguards under the Convention, upholding the country’s 2016 oil licensing decisions.

Noble posts $21mn loss but secures $740mn in new contracts

Noble Corporation reported a net loss in the third quarter of 2025 while strengthening its order backlog to $7.0bn through several major contracts, amid a transitioning offshore market.

Carbon removal investments hit $1 billion despite high operating costs

The carbon removal technology sector is expanding rapidly, backed by venture capital and industrial projects, yet high costs remain a significant barrier to scaling.
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Italian court approves extradition of Ukrainian suspect in Nord Stream case

An Italian appeal court has approved the extradition to Germany of a former Ukrainian commander suspected of coordinating the 2022 sabotage of the Nord Stream gas pipeline, a decision now challenged in cassation.

Liquid Wind and Umeå Energi launch 100,000-tonne eFuel plant in Sweden

The two partners finalise agreements to industrialise an eMethanol production site in Umeå, with commissioning scheduled for 2028 and a target of capturing 150,000 tonnes of CO₂ annually.

Finland leads race to host first Nordic fusion reactor, report finds

A technical study commissioned by Novatron Fusion Group identifies Finland as the most prepared country to host a fusion reactor, despite favourable conditions across the Nordic region.
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Aker BP and Halliburton complete first umbilical-less subsea tubing hanger installation

Halliburton and Aker BP have completed the first umbilical-less tubing hanger installation on the Norwegian continental shelf, paving the way for digitised offshore operations with reduced infrastructure.

SLB net income drops to $739mn despite revenue boost from ChampionX integration

Energy services provider SLB saw its net income fall by 38% year on year in Q3 2025, even as the integration of ChampionX helped lift revenue by 4% sequentially.

Oklo and newcleo announce $2bn nuclear partnership to strengthen US fuel supply

Oklo, newcleo and Blykalla partner to develop advanced nuclear fuel infrastructure in the United States, backed by a planned $2bn investment.
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United States secures postponement of carbon tax vote at the IMO

Under intense diplomatic pressure from Washington, member states of the International Maritime Organization agreed to postpone by one year the adoption of a carbon pricing mechanism for global maritime transport.

Minesto strengthens presence in South Korea with official Swedish delegation

Swedish ocean energy developer Minesto joined a high-level trade mission to South Korea to explore new cooperation opportunities in marine energy.

Rolls-Royce SMR selected to develop UK’s first modular nuclear reactors

The UK government has selected Rolls-Royce SMR to lead the deployment of small modular reactors, aiming to secure 24 GW of nuclear capacity by 2050.

Equinor signs €24 billion gas supply deal with Centrica through 2035

Norwegian group Equinor has sealed a gas supply deal with Centrica, covering nearly 10% of the United Kingdom’s annual demand over ten years.

Höegh Evi and Aker BP receive DNV approval for next-generation CO₂ carrier

Höegh Evi and Aker BP received Approval in Principle from DNV for a maritime carrier designed to transport liquefied CO₂ to offshore storage sites in Norway.
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RWE sells 49% stake in two offshore wind projects to Norges Bank for €1.4bn

Norges Bank Investment Management has finalised the acquisition of stakes in RWE's German and Danish projects, representing 2.6 GW of planned installed capacity by 2029.

European Energy secures EUR 145mn loan for wind and solar projects in Lithuania

European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.

PTAS Aker Solutions secures two-year offshore maintenance contract in Brunei

The oil services joint venture extends its contract with Brunei Shell Petroleum for maintenance and upgrade operations on offshore installations in the South China Sea.
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International Petroleum repurchases 89,200 shares under its NCIB programme

International Petroleum Corporation repurchased 89,200 common shares between 26 and 30 May under its buyback programme compliant with Canadian and European regulations.

Flex LNG secures $175 mn lease financing for Flex Courageous vessel

Flex LNG has finalised a $175 mn lease financing for its Flex Courageous vessel, generating $42 mn in net proceeds as part of a financial restructuring plan announced earlier this year.

Scatec secures 123 MW battery storage contract in South Africa

The Norwegian group has been named preferred bidder for a 492 MWh storage project under South Africa’s public BESIPPPP programme.
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Aker Solutions secures 2 GW contract for BalWin2 in Germany

Aker Solutions will deliver the steel structure for an HVDC converter station for the offshore BalWin2 project developed by Amprion Offshore, under a contract valued at up to NOK2.5bn ($228mn).

Sweden enforces tighter controls on Russian ships in the Baltic Sea

The Swedish government will implement new disclosure rules for foreign vessels, specifically targeting tankers linked to Russia’s hard-to-trace oil fleet.

European Energy launches e-methanol production and posts strong results

European Energy has begun commercial e-methanol production in Denmark and reported an EBITDA of €45.9mn, while accelerating its international expansion, particularly in Australia.
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Galp targets 40% increase in oil production in Brazil

Portugal’s Galp expects a production surge in Brazil driven by the offshore Bacalhau field, in partnership with Sinopec, Equinor and ExxonMobil.

Eolus raises SEK550mn in green bonds to refinance its debt

Swedish wind developer Eolus has issued senior secured green bonds worth SEK550mn ($51.5mn), enabling the full refinancing of its existing debt.

Ecopetrol acquires Statkraft’s solar assets in Colombia to strengthen its portfolio

Ecopetrol acquires Statkraft’s Colombian subsidiary, including eight projects under development and the 130 MW Portón del Sol solar plant.
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BW Offshore transfers operation of FPSO BW Adolo to its Gabonese subsidiary

BW Offshore has handed over the operations of the FPSO BW Adolo to BW Energy Gabon while retaining ownership and the vessel lease under previously agreed terms.

UMOE receives US approval for 350-bar hydrogen storage trailers

UMOE Advanced Composites and its exclusive agent Celly H2 have received approval from the United States Department of Transportation to deploy their Type IV storage trailers in the American hydrogen distribution network.

Norway to award up to 500 MW of floating wind with direct subsidies

Norway has launched a floating wind tender at Utsira Nord, including a subsidy cap of NOK35bn ($3.37bn) despite economic pressures hampering the sector.
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World Bank grants $350mn for $1.5bn hydropower project in Malawi

The World Bank is funding the largest foreign investment ever recorded in Malawi, aiming to double the country’s hydropower capacity through a public-private partnership initiative.

SBM Offshore reports 27% revenue growth in the first quarter of 2025

SBM Offshore posted quarterly revenue of $1,103mn, driven by the Turnkey segment, while maintaining full-year targets and advancing the deployment of its floating units scheduled for 2025.