Valdimar Össurarson runs a company called Valorka, which has designed a marine electric turbine by the same name. The generator won first prize at the International Inventors' Awards 2011. The company hopes its turbine will create a steady and reliable supply of electricity. Continue Reading

Former Icelandic government minister Jón Baldvin Hannibalsson (1987-95) says that the battle for Iceland's natural resources is not against the European Union and that is a purely domestic fight, he told a conference. Continue Reading

Ólafur Ragnar Grímsson, the President of Iceland, and First Lady Dorrit Moussaieff, are currently sailing to Antarctica, according to the President's office near Reykjavík. Al Gore, Nobel laureate and former US Vice President invited them to visit the southernmost continent on the planet. Continue Reading

Cairn Energy is to team up with Norwegian group Statoil in their quest to look for oil off the coast of Greenland. Continue Reading

The cost of fuel in Iceland has more than doubled in five years, new data reveals. At the same time average wages have gone up by 34 percent. Continue Reading

Greenlandic authorities have opened bidding on oil prospecting licences to the east of the country for the first time. Interest is said to be strong, with over 70 oil companies attending the Greenlanders' open meeting on the subject last month in Copenhagen. Continue Reading

It has been reported that Chinese interests want to finance the building of a health village in Flúðir, south Iceland to the tune of billions of krónur. Continue Reading

There was a significant risk of explosion alongside an Icelandic fjord this morning where a petrol tanker skidded off the road and began leaking its cargo over the tarmac and into the sea. Continue Reading

Norwegian state oil producer Statoil ASA has announced a major oil find in the Barents Sea off the coast of northern Norway. Continue Reading

Because of yesterday's bad-weather-induced power cuts in Iceland production at both the Elkem ferrosilicon plant and the Norðurál aluminium smelter at Hvalfjörður in the west ground to a halt. It is thought the cuts cost the companies tens-of-millions of krónur. Continue Reading