Hydro is well-positioned for long-term profitable growth in its energy and upstream aluminium operations but industry capacity constraints delay oil and gas production growth, the Norwegian-based company said at its Capital Markets Day. Growing Hydro’s oil and gas resource base, pursuing upstream aluminium growth opportunities and maintaining cost control remain top priorities, together with completing [...]

Husky Energy Inc. and Norsk Hydro Canada Oil & Gas say they have found new energy deposits near the Terra Nova oilfield off the East Coast.
Calgary-based Husky and Norwegian-owned Norsk Hydro said late Tuesday that offshore drilling in the Jeanne d’Arc Basin off the coast of Newfoundland and Labrador had found hydrocarbons near Terra Nova, [...]

Norsk Hydro ASA cut its 2006 oil and gas production target by 5 percent, or 30,000 barrels per day, on Friday, mainly due to delayed production.
The Oslo-based petroleum and light metals group now expects an average daily production of 585,000 barrels of oil equivalent, down from 615,000 barrels. Oil equivalents measure the energy content, rather [...]