Norsk Hydro News

Hans Olav Raen has been appointed CEO of Yara Clean Ammonia effective May 1, 2024.Raen has until now been Business Director and heading OCI’s fertilizers business in Europe. He has more than 25 years of experience in the fertilizer industry, including 12 years with Norsk Hydro and Yara International (between 1997 and 2009), where he held commercial and managerial roles in Europe and Africa.Raen holds a master’s degree from the College of Europe as well as a degree in digital leadership…

Seatrium has delivered a floating storage and regasification unit (FSRU) Energos Celsius to New Fortress Energy (NFE), one of the world’s leading LNG project developers.Energos Celsius is owned by Energos Infrastructure, a global marine infrastructure platform backed by Apollo funds and NFE, and the vessel is on long-term charter to NFE in Brazil.The FSRU was completed on time and within budget, and has departed the Seatrium shipyard for Brazil.It will subsequently be deployed at NFE’s completed LNG terminal in Barcarena in Brazil’s Pará state.The FSRU Energos Celsius will have a nominal regas

Marine battery maker Corvus plans an initial public offer (IPO) in the fourth quarter, aiming to list its shares on the Oslo Stock Exchange, its top executive said on Wednesday.The company, which assembles battery cells into giant batteries for ships such as ferries, cruise vessels, tug boats, [and offshore support vessels] expects the global market for such solutions to be worth $10 billion in 2030."We see that already ... the backlog is three times what it was a year ago," Chief Executive Geir Bjoerkeli told an energy conference."To take that growth…

Golar LNG said on Monday Hygo Energy Transition Ltd, a joint venture between Golar and U.S. private equity firm Stonepeak Infrastructure Partners, has appointed Paul Hanrahan as chief executive officer after Eduardo Antonello stepped down, following a corruption investigation in Brazil.Antonello has been accused by Brazilian federal prosecutors of bribery in a massive Car Wash corruption probe that in six years has led to the jailing of two former Brazilian presidents and hundreds of executives and politicians, with Brazilian and Dutch police executing dozens of search warrants.Operation Car Wash: Seadrill Served with Search and Seizure…

Hackers demanded about $5 million in bitcoin from Mexico's Pemex, they told Reuters on Tuesday, saying the state oil firm missed a special discount by not paying immediately after a cyberattack that fouled up the company's systems.The hack, which Pemex said it detected on Sunday, forced the company to shut down computers across Mexico, freezing systems such as payments, according to five employees and internal emails.Hackers have increasingly targeted companies with malicious programs that can cripple systems overseeing everything from supply chains to manufacturing…

Corvus Energy, manufacturer of energy storage systems for maritime applications, announced two production and R&D expansion plans underway in Canada and Norway. The new battery factories will be more modern and more automated than other similar factories, result in eight times the production capacity compared to today.First, the Corvus Energy factory in the Vancouver, Canada region will be expanded and upgraded to house a 200 MWh semi-automated battery production facility. A new product R&D, design and engineering facility will also be developed.

Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely to rise as the United Arab Emirates' ban on Qatari vessels cuts the ships off from the region's main refuelling port, forcing ships to sail further for fuel or pay higher prices. Saudi Arabia and the UAE, along with Egypt, Yemen and Bahrain, on Monday cut diplomatic ties with Qatar amid accusations the country supported terrorists. The Arab allies are applying many economic pressure points, including barring Qatari flagged ships from entering their waters. Around half a dozen oil…

Statoil’s board of directors has appointed Eldar Sætre as the company’s new president and CEO. Sætre, who has 35 years’ experience from Statoil and the oil and gas industry, has been acting as president and CEO since October, and assumes the role with immediate effect. "Eldar Sætre was our first choice. The industry and company are facing demanding challenges. Eldar stands out with his long experience and ability to create change. Those are qualities we need in times like these. I am extra pleased that we were able to recruit the next CEO from within Statoil," said Statoil’s chair of the Board, Svein Rennemo. Sætre has extensive operational and financial experience from Statoil. He has been a member of the Corporate executive committee since 2003.

Odfjell SE held a general meeting November 12, 2014 at which the nomination committee elected Annette Malm Justad as its new director of the board. Annette Malm Justad is a Norwegian citizen born in 1958. She has a master's degree in chemical engineering from the Norwegian Institute of Technology (NTH) and a master in technology management from MIT Sloan School of Management. She has a broad experience in logistics, marketing and purchasing within manufacturing and industrial shipping in Europe…

Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign. Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect. According to a Reuters report, Statoil's long-serving chief executive will take on the top role at smaller rival BG, where he has been promised a big pay rise if he can turn round the flagging British gas and oil producer.

Torgeir Kvidal is appointed Acting CEO effective 7 October 2014, and Jørgen Ole Haslestad has resigned as Yara CEO. "Yara's Board have concluded that Haslestad is not the right person to lead the company going forward, also in light of the on-going talks with CF Industries. Haslestad would not have a role in a potential merged company," says Leif Teksum, Chairman of the Yara Board of Directors. "I would like to take this opportunity to thank Jørgen for his contribution to Yara, first as a Board member and since 2008 as CEO. Yara has made considerable progress under Haslestad's leadership," says Teksum. "The discussions with CF Industries will continue with Kvidal leading the Yara team, with support from the Board and in particular from me as Chairman," says Teksum.

The board of directors of Yara International today announced the appointment of Svein Richard Brandtzæg as the company's new President and Chief Executive Officer. He will succeed Jørgen Ole Haslestad by February 2015. Brandtzæg currently serves as President and CEO of Norsk Hydro ASA, a position he has held since 2009. Prior to this, he has held a number of management positions in Norsk Hydro. Born in Norway in 1957, Brandtzæg graduated from the Norwegian University of Science and Technology (NTNU). He holds an economics degree from the Norwegian School of Management and a PhD from NTNU. "In preparation for the retirement of Jørgen Ole Haslestad at the age of 65, the Yara Board of Directors initiated a thorough process to identify his successor.

Norway's right wing government will retain its current holding in oil and gas firm Statoil , backing off a pre-election proposal to cut the stake to about 50 percent from the current two thirds of the shares. The government led by the Conservative Prime Minister Erna Solberg has pledged to reduce the state's role in the economy to give the private sector more breathing space and shrink what it considers a bloated public sector. The government owns about a third of shares listed…

The Directors to Kvaerner's Board have been elected. From Kvaerner's first day of trading on the Oslo Stock Exchange in July 2011, the Board of Directors will consist of five shareholder-elected members as well as three members elected by Kvaerner's employees. The shareholder-elected members are Kjell Inge Røkke (chairman), Tore Torvund, Bruno Weymuller, Lone Fønss Schrøder and Vibeke Hammer Madsen. The employee-elected members are Rune Rafdal, Ståle Knoff Johansen and Bernt Harald Kilnes. Kjell Inge Røkke is an entrepreneur and industrialist, and has been a driving force in the development of Aker since the 1990s. Mr. Røkke owns 67.8 percent of Aker ASA through The Resource Group TRG AS.

Jan Arve Haugan has been appointed President and Chief Executive Officer (CEO) of Kvaerner. This new engineering, procurement and construction (EPC) company is being established through a demerger of Aker Solutions. Kvaerner will be separate and listed on the Oslo stock exchange, most likely in July this year. Jan Arve Haugan started his professional career in the Norwegian construction company F. Selmer (now part of Skanska), and in 1991 he joined the Norwegian industrial group Norsk Hydro as chief engineer for the Oseberg field development as a key task. Since then he has had leading positions in many of Hydro's oil and gas projects and operations.

FMC Technologies, Inc. (NYSE: FTI) announced it has signed an agreement with Total Exploration & Production Angola for the manufacture and supply of subsea production equipment for the CLOV development project. The award has a value of approximately $520m in revenue to FMC Technologies. FMC's scope of supply includes the manufacture of 36 subsea trees, wellheads and controls. The company will also supply eight manifolds, two workover systems and associated tooling and equipment. Deliveries are scheduled to commence in the first quarter of 2012. The deepwater CLOV development project consists of the Cravo, Lirio, Orquidea and Violeta discoveries, located in approximately 4,500 feet (1,370 meters) of water in Block 17 offshore Angola.

Statoil ASA (OSE: STL, NYSE: STO) has agreed to sell 40% of the Peregrino field offshore Brazil to Sinochem Group. Statoil maintains 60% ownership and the operatorship of the field which is set to start production in early 2011. “The transaction confirms the high quality of the Peregrino asset, reflecting Statoil's value added through the field development. The transaction demonstrates Statoil’s ability to leverage its industrial competence developed at the Norwegian Continental Shelf, and realize value for our shareholders.

Kurt Anker Nielsen has informed StatoilHydro’s nomination committee that he is resigning from his position as board member on March 25, with immediate effect as a result of the way the Ministry of Petroleum and Energy has handled the issue relating to the company name. Kurt Anker Nielsen was a board member of Norsk Hydro from 2004 to 2007. He has been a member of the board, and chair of the board's audit committee, of StatoilHydro since 1 October 2007.   StatoilHydro's nomination committee will immediately start its search for a new member of the board. The board of directors in StatoilHydro is elected by the company's corporate assembly. (www.statoilhydro.com)

Statoil Hydro on November 27 said it has won a bid to conduct offshore exploration off Brazil. The Norwegian group was awarded two blocks offshore. The blocks, numbered CM529 and CM530, are located in sea depths of around 100 m. The licenses for the two blocks were to be operated by Anadarko Petroleum Corporation that would have a 50 percent stake, the same as Statoil Hydro. Statoil Hydro did not state what the bid cost. The blocks were located next to the heavy oil field Peregrino that was slated to come on stream in 2010. Statoil Hydro has a 50-percent-stake in the Peregrino field in the Campos basin. The Norwegian group was created October 1 when Statoil and its rival Norsk Hydro merged their oil and gas activities.

Torstein Dale Sjøtveit has been appointed new president and CEO for Aker Yards ASA. Sjøtveit comes from the global industrial company Norsk Hydro, and brings a strong international top management experience. He will start in his new position with Aker Yards at the latest 1 September 2008.In March 2008, Aker Yards announced the start of a recruitment process for a new CEO. In the intermediate period, the chairman of the board of directors, Svein Sivertsen, has acted as CEO.

An agreement to develop the Hibernia South offshore oilfield should be complete this year, Premier Danny Williams said. More than a year ago, the Newfoundland and Labrador government rejected a proposal to develop the project, triggering fears that Williams was alienating the oil industry and scaring away investment. Williams,  said he intends to turn his attention to the Hibernia South project once a deal to develop the Hebron oilfield is finalized, which is expected soon. The application was submitted in 2006 by the Hibernia Management and Development Corporation, which includes ExxonMobil, Chevron, Petro-Canada Norsk Hydro, Murphy Oil and Canada Hibernia Holding. ExxonMobil Canada president Glenn Scott said he was optimistic the Hibernia South negotiations would progress swiftly.

Mr. Breivik will succeed Hilde Merete Aasheim who will leave StatoilHydro on the same date to take up her new position as executive vice president of Aluminium Metal in Norsk Hydro. Gunnar Breivik is currently senior vice president of StatoilHydro's health, safety and environment cluster. Mr. Breivik will continue to hold the responsibility for this field as well. After completing his chemical engineering studies as a chartered engineer at the of Science and Technology (NTNU) in 1981, Mr. Breivik was employed by Phillips Petroleum before he started working for Norsk Hydro in 1985. Gunnar Breivik held a number of positions in Hydro Oil & Energy…

Christian Lange has become the managing partner of Faststream AS, the Oslo based arm of international maritime recruitment specialist Faststream Recruitment Ltd. Commenting on the appointment, Faststream Group CEO Mark Charman said: “Christian is a shipping man through and through with years of shipbroking experience under his belt who really understands the sector. After two years with Faststream, I’m delighted that he has become a partner in our fast growing firm. Oslo born Christian Lange (53) began his career in shipping in 1975 as a shipbroker in Hamburg. He has worked in a variety of positions for United Arab Chartering (1978-79)…