Word: hydro
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...known for now (the firm is still mulling over a permanent name change), and the royal ceremony, Reiten was generating headlines of his own. On the day of the merger, StatoilHydro announced it had launched a probe into the legality of approximately $7 million in consultancy fees and expenses Hydro paid as part of its oil operations in Libya. Although it has not disclosed the name of the consultancy Hydro paid or what laws it might have broken, StatoilHydro said the payments came to light during the merger process. Reiten wasn't involved in Hydro's energy operations when those...
...week Eivind Reiten is unlikely to forget. On Oct. 1, the oil and gas arm of Hydro, an Oslo-based energy and metals company he was running, completed a $36 billion merger with Statoil, its beefier Norwegian rival, creating the world's largest offshore energy operator. Five days later, Reiten hosted his country's King and Queen in Nyhamna, a third of the way up Norway's west coast, at the official launch of a record-breaking gas production and processing project forged by Hydro to harness gas from 120 km away under the Norwegian...
...decades, Statoil and Hydro relied on the plentiful reserves on the Norwegian continental shelf for almost all their output; last year, that area off the country's north and west shores accounted for more than four-fifths of the two firms' production. That bounty has made this nation of just 4.6 million people rich. Government taxes on the country's oil business - Norway is the world's fifth largest exporter by volume - have helped bloat Norway's national pension fund to around $350 billion. But those good times couldn't last forever. With fields beginning to dry up, oil production...
...cloud seeding is back, especially in Australia. Energy company Snowy Hydro, for example, is trying to replenish dwindling snowfall in the not-so-Snowy Mountains in New South Wales. But what's special about the Queensland project, says Roelof Bruintjes, a cloud-seeding expert with the U.S. National Center for Atmospheric Research, is that, for the first time, scientists will be able to take full advantage of a simple premise: some clouds are better for seeding than others. Up to now, the right weather-measuring tools have never been in the right program at the right time. Starting in November...
...Hastings project underscores the potential for inland dam-free hydropower--30,000 MW, roughly 10% of existing U.S. coal-burner capacity, according to U.S. Department of Energy estimates. The green lobby, which fights dams, is not yet sure what to make of dam-free hydro, but it is wary. True, you can pull a turbine out of the water if things go badly--but "you don't just put one turbine in the water," says Robbin Marks of American Rivers. "To generate a fair amount of electricity, you have to put in hundreds. We really don't know what...