Norway’s BW Offshore to float Energy to fund Brazil growth
OSLO (Reuters) – Oslo-listed BW Offshore said it will float BW Energy this year to help expand the oil and gas business, particularly in Brazil, as its first quarter earnings rose 72%.
Shares in BW Offshore, originally an owner of floating production, storage and offloading (FPSO) vessels operated on behalf of oil companies, were 17.6% higher at 60.6 Norwegian crowns by 0901 GMT on Thursday.
By Terje Solsvik and Victoria Klesty via Reuters