KNOT Offshore Partners LP Announces 2025 Annual Meeting and Nomination of Pernille Østensjø to Serve as an Independent Director
MWN-AI** Summary
KNOT Offshore Partners LP (NYSE:KNOP) has announced its 2025 Annual Meeting, scheduled for December 15, 2025, at 4:00 PM UK time, to be held at 2 Queen’s Cross, Aberdeen, United Kingdom. The record date for unitholder voting is set for November 6, 2025, with additional details on the agenda and materials to be distributed prior to the meeting.
The Partnership's Board of Directors has nominated Ms. Pernille Østensjø as an Independent Director, pending unitholder approval at the Annual Meeting. Ms. Østensjø is currently a senior advisor at the Norwegian Agency for Development Cooperation (NORAD), focusing on energy resources and sustainable development initiatives. Her prior roles include managing director at OMP Capital AS, where she oversaw investment analysis in the energy sector, and first vice president at Export Finance Norway, where she handled renewable energy financing. Additionally, she has experience as Chief Financial Officer at Tschudi & Eitzen Shipping Company and has worked with Danske Bank and KPMG, gaining substantial exposure to financial management and corporate operations.
Chairman Trygve Seglem highlighted Ms. Østensjø's extensive background in the energy sector and financial management, emphasizing her potential to enhance the board's independent voice. The Board also expressed gratitude to retiring member Hans Petter Aas for his significant contributions to the Partnership.
KNOT Offshore Partners LP operates shuttle tankers under long-term charters in the offshore oil markets of Brazil and the North Sea. The company is structured as a publicly traded master limited partnership for U.S. tax purposes, providing a Form 1099 instead of a Form K-1 to its unitholders. For more information, please refer to the official press release.
MWN-AI** Analysis
KNOT Offshore Partners LP (NYSE: KNOP) has announced its 2025 Annual Meeting, which is scheduled for December 15, 2025. This event includes the significant nomination of Ms. Pernille Østensjø as an Independent Director, reflecting the Partnership’s strategy to leverage experienced leadership with a solid background in energy investment and financial management.
Investors should view this development positively. Østensjø’s extensive background in the energy sector—particularly in renewable energy initiatives, and her roles in leading financial institutions—could enhance KNOP’s governance framework and strategic direction. It's crucial for stakeholders to recognize how her expertise may influence the Partnership's decisions, especially given the increasing scrutiny on energy investments amid a global shift towards sustainability.
The scheduled record date of November 6, 2025, indicates that unitholders will need to engage in monitoring upcoming announcements and materials related to the meeting. Investors are encouraged to assess the implications of electing Østensjø on their investment strategy and the Partnership's future performance.
Furthermore, KNOP's operational focus on shuttle tankers within key offshore production regions like Brazil and the North Sea positions it as a critical player in the oil supply chain. However, market participants should remain cautious about the potential volatility in oil prices and regulatory landscapes affecting the energy sector, especially as transitions to renewables are prioritized globally.
With the Partnership structured as a publicly traded master limited partnership that issues Form 1099 for tax purposes, investors can expect a potentially favorable tax treatment compared to K-1 issued firms.
Overall, while the nomination of Østensjø represents a strategic move towards diversification and enhanced governance, unitholders should remain vigilant regarding market conditions that could impact KNOP’s operational performance and investment returns. The upcoming Annual Meeting will provide additional insights into the company’s strategic direction and governance.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
KNOT Offshore Partners LP (NYSE:KNOP) (“KNOP” or the “Partnership”) advises that its 2025 Annual Meeting will be held on December 15, 2025. The record date for voting at the Annual Meeting is set to November 6, 2025. The notice, agenda and associated material will be distributed prior to the meeting.
The 2025 Annual Meeting will be held at 2 Queen’s Cross, Aberdeen AB15 4YB, United Kingdom at 4:00 pm UK time.
Additionally, the Board of Directors of KNOP (the “Board”) announces its nomination of Ms. Pernille Østensjø to serve as an Independent Director of the Board, subject to a vote by the Partnership’s unitholders at the Annual Meeting.
Ms. Østensjø currently serves as a senior advisor at the Norwegian Agency for Development Cooperation (“NORAD”), focused on investments in and development of energy resources and sustainable development. Previously, she served as a managing director at OMP Capital AS, a former portfolio company of leading energy investor HitecVision, in which role she was responsible for the analysis of potential investments and oversight of existing investments in a portfolio of listed and private companies related to the energy sector. Before that, she worked as a first vice president at Export Finance Norway and at The Norwegian Export Credit Guarantee Agency, in both cases covering renewable energy, and as a senior client executive overseeing large corporates at Danske Bank. Prior to that time, Ms. Østensjø served as the Chief Financial Officer for Tschudi & Eitzen Shipping Company, on the Board of Directors of Tschudi Offshore and Towing, and at various roles across the UMOE Group, both in Norway and abroad. She began her career as an auditor and worked for KPMG.
Trygve Seglem, Chairman of KNOP’s Board of Directors, commented:
“We are nominating Pernille to serve as an Independent Director because of her wealth of experience in financial management, equity and credit investment in companies across the energy sector, and board-level oversight in both the maritime and energy sectors. We believe that, if elected, Pernille will provide a strong, independent voice to our well-rounded, majority-independent Board.
On behalf of the entire Board, I would also like extend my appreciation to Hans Petter Aas, who has announced his intention to retire from the Board upon expiry of his current term of office. Hans Petter’s contribution and impact on KNOP cannot be overstated – his has been a key voice in guiding the Partnership throughout its history.”
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers primarily under long-term charters in the offshore oil production regions of Brazil and the North Sea.
KNOT Offshore Partners LP is structured as a publicly traded master limited partnership but is classified as a corporation for U.S. federal income tax purposes, and thus issues a Form 1099 to its unitholders, rather than a Form K-1. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP.”
Forward looking statements
This press release includes statements that may constitute forward-looking statements concerning future events including statements regarding the potential election of Ms. Østensjø. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “believe”, “anticipate”, “expect”, “estimate”, “project”, “will be”, “will continue”, “will likely result”, “plan”, “intend” or words or phrases of similar meanings. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Factors that can affect future results are discussed in the Annual Report on Form 20-F and subsequent Reports on Form 6-K filed by the Partnership with SEC. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251027270448/en/
KNOT Offshore Partners LP
Derek Lowe
Chief Executive Officer and Chief Financial Officer
Tel: +44 1224 618 420
Email: ir@knotoffshorepartners.com
FAQ**
How does KNOT Offshore Partners LP representing Limited Partner Interests KNOP plan to leverage Ms. Pernille Østensjø's experience in the energy sector to enhance its strategic direction post her potential election as an Independent Director?
With the upcoming retirement of Hans Petter Aas, what specific changes does KNOT Offshore Partners LP representing Limited Partner Interests KNOP expect in board dynamics, and how might this impact decision-making processes?
Considering the focus on offshore oil production, what are KNOT Offshore Partners LP representing Limited Partner Interests KNOP's strategies to mitigate risks in the volatile energy market following Ms. Østensjø's potential contribution?
How will KNOT Offshore Partners LP representing Limited Partner Interests KNOP address unitholder concerns regarding the election process and governance changes during the 2025 Annual Meeting, especially with new nominations like Ms. Østensjø?
**MWN-AI FAQ is based on asking OpenAI questions about KNOT Offshore Partners LP representing Limited Partner Interests (NYSE: KNOP).
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