Cairn Energy has confirmed that it has found gas off the western coast of Greenland. The Edinburgh-based oil and gas exploration company made the discovery in the Baffin Bay Basin, 175km from the island of Disko. Continue Reading

Two Israeli firms have been excluded from Norway’s USD 450 billion sovereign wealth fund for building Israeli settlements on occupied Palestinian land. Both the Africa Israel Investments holding firm and its construction subsidiary Danya Cebus have been blacklisted by the Norwegian Ministry of Finance. Continue Reading

The debts of Reykjavik Energy went down by ISK 12 billion (USD 99.5 million) between the first and second quarters of this year due to the strengthening krona. Despite that, the company is to increase its prices to consumers by 28.5 percent. Continue Reading

Greenpeace has announced that it has been blocked by a Danish warship in its efforts to sail a protest boat to an oil drilling platform off the coast of Greenland. The environmental group’s ship, Esperanza, was apparently halted outside a 500-metre exclusion zone around the Cairn Energy rig, 200km from Aasiaat, on Greenland’s west coast. In an email statement issued on Monday, Greenpeace said Denmark, which holds sovereignty over Greenland, had sent a ship to confront their vessel. Continue Reading

Thrifty Finns are stocking up on cheap filament light bulbs before the EU brings in a blanket ban in 2012. Despite sales remaining buoyant in Finland, next month will see an end to deliveries of the old-fashioned 75-watt bulbs to the country’s stores, prompting many residents to binge buy before shelves empty. Continue Reading

Three weeks ago the joint enterprise fund of the Icelandic pension funds declined Magma Energy's offer to purchase a 25 percent stake in HS Orka - but now the Pension Fund of Commerce is considering buying into the company unilaterally. Continue Reading

The Cairn Energy oil exploration group has confirmed that it has sold a 51 percent stake in its Indian arm to help fund its project off the coast of Greenland. Just as offshore drilling becomes more controversial in the wake of the Gulf of Mexico disaster, the Edinburgh-based group will return a “substantial sum” to investors and add to its two rigs already positioned 200km from Aasiaat, on Greenland’s west coast. Continue Reading

Katrin Juliusdottir, Iceland's Minister for Industry says that interest in giving out test drill licences for the oil search in Iceland's Dragon Area has decreased following the Gulf of Mexico disaster. Continue Reading

Icelandic artist Snorri Asmundsson is set to visit Palestine and Israel this September with his meditation pyramid. Continue Reading

The electromagnetic storm which hit the upper atmosphere over Iceland, Scandinavia, Greenland and North America this week was the biggest since December 2006. Continue Reading