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Reykjavik issues offshore drilling licenses
Iceland’s government has issued several new offshore exploration licenses. According to reports, Faroe Petroleum has been granted a provisional exploration license by the Icelandic energy body...
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Iceland president: government to set up wealth fund for oil revenue
Iceland’s premier has said that Reykjavik is to set up a wealth fund ahead of a potential offshore oil boom to protect the country’s revenues. President Olafur R. Grimsson’s comments came during an...
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Iceland continues to open up offshore exploration
Iceland is continuing to invest in offshore oil exploration amid the country’s ongoing economic recovery. On Friday 4 January, officials in Reykjavik signed another deal for tapping fresh reserves in...
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Norway and China to explore offshore Iceland
There’s no stopping the ambition of China to seek out minerals in the Atlantic waters. News from Oslo, reported by Reuters, said the country would be teaming up with Chinese oil firm CNOOC to explore...
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