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News on Norway.

These are some of Seadrill's major bondholders

Bondholders have again become the unknown ownership element that could ultimately block a restructuring – this time at Seadrill. But there are several parties among the unsecured bondholders who support the rescue plan. Now some investors have been named.

Norwegian taxpayers could be left with Seadrill debt

The Norwegian state may have guaranteed upwards of USD 1.3 billion of Seadrill's debt, which means that Norwegian taxpayers could end up footing part of the bill if John Fredriksen's rig company goes bankrupt, reports E24.

Norway could lose millions on Oceansaver collapse

Norway's state-owned fund Investinor expects to lose its entire investment after the collapse of ballast water systems supplier Oceansaver. Norway actively fought to have the IMO rules postponed, which wound up derailing the company.

John Fredriksen tops list of Norway's wealthiest people

John Fredriksen, who actually holds a Cypriot passport, has been listed as Norway's richest person by business magazine Kapital for the 15th consecutive year. Another shipping profile is ranked a bit further down the list.

Rolls-Royce injects billions in fresh capital into Norwegian marine business

The engine behemoth has booked huge losses on its Norwegian subsidiaries, Rolls-Royce Marine in particular. The UK parent company has subsequently injected more than NOK 2 billion in fresh equity into its marine business in Norway, which is severely strained by the downturn in offshore, reports Finansavisen.

Norwegian state continues to bag huge gains from oil fields

State-owned Norwegian energy company Petoro, which owns one third of all oil and gas fields on the Norwegian shelf, now believes that oil extraction is on track to become a profitable business once again. The half-year results shows significant improvements compared to last year.

Norway anticipates field plans totaling NOK 125 billion

Norway's Petroleum and Energy Minister, Terje Søviknes, is optimistic about the number of submitted development plans for the oil sector. More development plans have already been submitted so far in 2017 than during all of last year combined.

Havila family buys stake in Norwegian offshore carrier

The Sævik family, known for Havila Shipping, has bought a stake in offshore carrier Volstad Maritime, based in Ålesund, Norway, report local media. "We wish to contribute to building a large and profitable subsea company," says Havila founder Per Sævik according to Sysla.

Norway's Mohn eyes light ahead after challenging times

One of Norway's richest businessmen was severely strained by the deep dive of the oil price. But now things are looking better, and the oil companies once again need rigs, though rates are low, Frederik W. Mohn tells Dagens Næringsliv.

Statoil signs long-term contracts for offshore ships

The Norwegian oil major has taken on a series of offshore vessels on contracts totaling USD hundreds of billions, including ships from Norway's new, large-scale offshore carrier Solstad Farstad and from Havila.

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