Terje Solsvik News

Credit: Statnett

Gallery: Wreckage of Major German World War Two Warship Discovered Off Norway

further away from the wreckage if its location had been known at the time of construction.The Apr. 9, 1940, attack marked the start of the Nazi invasion of Norway, forcing the government and the king to flee to Britain, where they were exiled until Germany's capitulation in 1945. (Editing by Terje Solsvik and Peter Graff

(Photo: Ole Jørgen Bratland, Equinor)

Equinor's Incoming CEO Wants to Be Best in Offshore Oil, Gas

Anders Opedal, who on Monday was named Equinor's new chief executive, said he wanted the Norwegian oil company to be both best in offshore oil and gas and at the same time have higher climate targets and develop new low-carbon solutions."I want Equinor to be best in offshore oil and gas," Opedal told a news conference at the company's headquarters, adding that he also wanted the company to create a platform for growth for low-carbon solutions."I want to go further ... with climate targets," he added.(Reporting by Gwladys Fouche, editing by Terje Solsvik)

(Photo: PGS)

TGS Makes Surprise $600 Mln Offer for Part of Rival PGS

technology and marine acquisition capacity," he added.PGS last month said it was reducing capital spending to a minimum and seeking to preserve liquidity while at the same time talking to creditors to seek an extension to the September repayment deadline and amend debt covenants.(Reporting by Terje Solsvik; Editing by Leslie Adler and Dan Grebler

Hywind Tampen Illustration - Image Credit: Equinor

Equinor's $466M Floating Wind Farm Plan Approved

million crowns from the industry's NOx fund, set up to reduce emissions from ships.Equinor's partners in the two licenses are OMV, Idemitsu, Wintershall Dea, Eni's Vaar Energi, and state-owned Petoro. ($1 = 10.3103 Norwegian crowns) (Reporting by Nerijus Adomaitis; editing by Terje Solsvik and Barbara Lewis

Akva Group Warns of Q4 Loss

.8 million-$3.4 million) for the October-December quarter, it said in a statement. It did not provide a year-ago comparison.The revenue shortfall was mainly caused by project delays, particularly in its land-based fish farm equipment unit, Akva Group added.($1 = 8.9047 Norwegian crowns)(Reporting by Terje Solsvik, editing by Gwladys Fouche

Seismic streamers - Image by DedMityay / Source: Adobe Stock

TGS Q4 Revenue Misses Forecast

Norway's TGS, a supplier of seismic data to the global oil industry, reported lower-than-expected fourth-quarter revenue on Thursday.So-called net segment revenue hit $230 million for the October-December period, while analysts on average had expected revenue of $257 million, according to forecasts published by Refinitiv.TGS did not provide a year-ago comparison for the fourth quarter, but said full-year revenue was up 16.2% from 2018 and that the sales outlook for the first quarter of 2020 was "promising".(Reporting by Terje Solsvik; Editing by Himani Sarkar)

© DedMityay / Adobe Stock

TGS Posts Record Q3 Revenue

net revenues coming in above both our own internal expectations and the average analyst estimate of $263 million," it said.Forecasts published by Refinitiv separately confirmed the average expectation among analysts of $263 million.The company did not provide a year-ago comparison.(Reporting by Terje Solsvik, Editing by Gwladys Fouche and Muralikumar Anantharaman

Courtesy PGS

PGS Calls off Debt Refinancing, Shares Fall

it targeted a debt level of below $500-600 million, while its interest bearing net debt stood at $1.3 billion at the end of the first quarter.PGS shares initially fell by 24% following the announcement and traded down 17% by 0929 GMT, while the European oil and gas index was broadly flat.(Editing by Terje Solsvik. Editing by Jane Merriman

(Photo: Subsea 7)

Subsea 7 Raises Revenue Outlook

with weaker margins."We have started to see increased pricing on tenders for major new projects, but this will take time to materialize in our financial results due to an anticipated two to three year time lag, on average, between tender, award and execution," Cahuzac said.(Reporting by Terje Solsvik and Izabela Niemiec; editing by Nerijus Adomaitis and Jason Neely

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