News on Norway.

Norway wealth fund gets nod to sell USD 6 billion in oil stocks

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.

Airbus says it has found cause of helicopter crash off Turøy

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.

Friday might bring big strike on Norwegian rigs

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.

Exxonmobil's sale of Norwegian oil activities could set record

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.

Norway's government wants to halve shipping's emissions already by 2030

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.

Norway's Ulstein yard gets new director

Lars Lühr Olsen, who has been a part of Ulstein for 20 years, becomes new managing director of Ulstein Verft in Norway. His predecessor departed of his own accord, write several media.

Greek owner hit with sulfur fine in Norway

A Greek cruise line has been fined close to NOK 1 million for violating the sulfur cap in Norway, says the country's maritime authority, describing the fine as historically large.

Kvaerner raises 2019 expectations

Kvaerner increases its expectations for 2019 revenue by NOK 1 billion, bringing the total revenue projection to NOK 8 billion. First quarter was solid, says CEO.

No fatal accidents in Norway's oil industry in 2018

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.

Norway considers expanding scrubber ban

The ban on open-loop scrubbers in Norway could be expanded to more than the five fjords where it is currently prohibited to eject wash water, reports Lloyd's List.

Oil fund's watchdog will contact shipowners on beaching

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 USD 1 trillion wealth fund jettisons oil companies

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.

Equinor employees have lost confidence in safety authority

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.

New Norwegian tax rules make more carriers seek abroad

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.

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