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Oil price sends offshore shares down in Oslo

If anything has boosted the rates at the Oslo Stock Exchange, it is the black gold from the North Sea. If anything can make the Norwegian stock market plummet, it is declining oil prices. Statoil has dropped 16 percent in one week.

Photo: PR

The small gray mansion in the center of Oslo that houses the Norwegian stock exchange does not look like much compared to the size of the values and companies traded here. And not surprisingly, offshore bonds such as Statoil and supply company Kvaerner have made the little stock exchange interesting to Norwegian as well as international investors.

The common denominator is oil and gas from the North Sea, which has created an industry that has been and still is hugely important to the establishment of Norway's wealth through companies with branches spreading throughout the world.

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