Head of Norway's central bank warns against oil exit
Climate considerations should not put a damper on oil exploration, says the head of Norway's central bank, Øystein Olsen, according to Aftenposten.
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News on Norway.
Climate considerations should not put a damper on oil exploration, says the head of Norway's central bank, Øystein Olsen, according to Aftenposten.
Oil major Equinor's employee union Safe calls for the Petroleum Safety Authority Norway's Director General, Anne Myhrvold, to step down when her term ends this spring, reports Dagens Næringsliv. The call comes after Norway's public auditor has criticized the authority.
Several shipping companies are considering moving functions and departments out of Norway as a result of the new Norwegian tax rules, the Norwegian Shipowners' Association tells ShippingWatch. DHT has already made the move.
Billion dollar investments in the Norwegian oil sector is headed for a significant surge, projects the Norwegian Oil and Gas Association.
Norwegian oil major Equinor and partners have found new oil at North Sea field Johan Castberg.
A new study shows that three out of four Norwegian oil fields produce less oil in their first years than originally projected, reports Dagens Næringsliv.
The Norwegian government is getting ready to let Color Line out-flag its international service ferries, which would enable the ferry operator to hire cheaper labor. The move is met with criticism from DFDS, which will look at similar possibilities.
Six out of ten Norwegian oil companies are expecting growth in the coming years, and there could be challenges finding enough new oil workers, according to a new poll by SpareBank1.
The new Norwegian oil minister Kjell-Børge Freiberg tells Sysla in an interview that he does not see any opposition between fossil fuels and climate change mitigation. He wants Norway to play a central role.
Oil investments in Norway are expected to grow this year and next year, projects Statistics Norway, which eyes a new peak around 2020. The bureau upgrades its forecast for next year significantly.
According to analyst firm Wood Mackenzie, the Norwegian offshore market is currently characterized by momentum. But there are threats looming on the horizon.
Ahead to 2022, the Norwegian oil sector will hire between 24,000 and 28,000 employees, says a research institute according to Dagens Nyheder.
Norway's massive wealth fund, the world's biggest sovereign investor, should maintain its investments in oil stock, recommends a government-appointed commission.
Oil companies operating in the Norwegian part of the North Sea expect to increase their investments by NOK 10 billion in 2019, according to the latest figures from Statistics Norway.
A Norwegian-based yard will construct the world's first autonomous and zero-emission container vessel, which is expected to be completed in 2020. The vessel is the result of a collaboration between supplier Kongsberg and fertilizer company Yara.
Equinor is poised to make more money during the 2018-2020 period than the previous 17 years, if the oil price maintains its current level, says an analyst from Pareto.
Norway has made the first deposit to its huge wealth fund in close to three years at a time when increasing oil prices and a recovering economy again benefits oil producing nation.
Oil major Aker BP, owned by parties including BP and shipping investor Kjell Inge Røkke's Aker Group, has acquired 11 licenses on the Norwegian shelf from France's Total.
More than 600 Norwegian rig workers from nine offshore installations have halted their work, as union Safe and the country's shipowners' association were unable to reach a wage agreement. An additional 900 workers could join the strike, starting midnight Sunday, unless the parties reach an accord.
Italien energy company Eni merges its Norwegian business with oil company Point Resources AS to create a new major player on the Norwegian shelf.
The dramatic drop in oil prices from 2014 onwards cost approximately 25,000 Norwegian jobs in the Norwegian oil sector alone in 2015, 2016 and 2017. New figures from Statistics Norway show this development, writes business daily Dagens Næringsliv.
A majority in the Norwegian Parliament has asked the government to review elements of the country's maritime policy, writes Norwegian media Sysla.
Norway's government wants to increase its state-backs loan guarantees for newbuilds by NOK 2 billion to a total NOK 7 billion, reports E24.
After several years of declining interest in education programs for the oil and gas industry, young Norwegians are apparently once again looking to work in the fossil fuel industry.
Major oil fields in the North Sea could be impacted by strikes which may take effect in Norway from Sunday. The Mongstad oil supply base could be hit hard by a full-fledged strike.
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