Norway's sovereign wealth fund gets the go-ahead to sell oil and gas stocks for a value of close to USD 6 billion after a two-year process that has seen an initial proposal to offload all its oil investments be reduced to what amounts to a smaller investment.
The producer of the helicopter that crashed off Norwegian island Turøy in 2016, Airbus, says it has pinpointed the technical error leading to the fatal accident, Sysla writes. Aside from that, the company refers to the conclusions of the crash report.
Willingness to invest in the Norwegian continental shelf in 2020 seems to be increasing, show new figures from Statistics Norway. On the long term, things look different, deems investment bank DNB Markets.
The number of Norwegian seafarers working on Norwegian ships has increased slightly compared to last year, but the number has gone down when comparing to the year before that. The development pleases Norway's minister of trade.
Friday could turn into a major strike if the unions for Norwegian employees on a number of rigs do not reach an agreement with the Norwegian Shipowners' Association. The strike will affect a total of 1,586 employees, writes media.
Oil major Exxonmobil's plans to sell off its Norwegian business could lead to the biggest sale on the Norwegian Shelf since 2006, according to Wood Mackenzie. The analyst firm points mainly to North Sea players as obvious buyers of the large portfolio.
With a new plan of action, the Norwegian government will work to reduce the emission of greenhouse gases from the country's shipping sector by 50 percent already in 2030 – two decades before the target set by the IMO comes into force. But the plan includes too few concrete initiatives, say critics according to Sysla.
16 months have passed since the last fatal accident in Norway, and as such, 2018 was a year without fatalities in the country's oil industry, shows the latest risk level numbers from Norway's Petroleum Safety Authority.
With shares in Maersk and Teekay, the world's biggest investor, Norwegian wealth fund, expects to pass judgement on carriers who scrap ships in India already by this fall. The chairman of the fund's Council on Ethics tells ShippingWatch that shipping companies will now be contacted.
Norway's government has decided to remove oil companies from the country's sovereign wealth fund, the world's largest investment fund. This is being done to reduce an overall oil price exposure to the national economy, says finance minister Siv Jensen.
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.