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Nordea: Norwegian oil industry changing dramatically

Risky for Norway to follow on the heels of the many oil companies that neglect the fundamental changes underway in the Norwegian oil industry, says Thina M. Saltvedt, oil analyst at Nordea Markets.

Not just the Norwegian oil industry, but Norwegian society as a whole should start to prepare for a transition process that could be significant, as the climate, climate changes and changing political attitudes will affect the oil production on the Norwegian shelf and the continuous income flow that the Norwegian society is based on, says Thina M. Saltvedt, recognized oil analyst at Nordea Markets, in a comment in Norwegian national newspaper Dagens Næringsliv.

"It is time to wake up. In light of the enormous value and wealth the oil has created for Norway, it is not entirely incomprehensible that a change in the profit base due to increased climate requirements will feel like a tough job to solve for many. Especially because it is going to take years before we see the results of these changes."

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