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Norway

News on Norway.

World's largest investor not convinced by the Hong Kong convention

Unlike a significant portion of the shipping sector, the Council on Ethics at the world's biggest independent investor, Norway's Government Pension Fund Global, does not believe that a Hong Kong certification in and of itself is enough to approve a scrapping facility. Read on to learn why.

Norway's oil fund expands monitoring of shipping sector

The blacklisting of several carriers is only the first step in a broader monitoring of the shipping sector by the world's biggest independent investor, the Norwegian state's oil fund. Chairman of the fund's Council on Ethics, Johan H. Andresen, talks to ShippingWatch about the plans.

Norway awards record number of new oil licenses

The Norwegian Shelf will be a busy workplace over coming years if the oil companies seize the opportunity and utilize the many licenses they have just been awarded. Statoil and Aker BP were the big winners.

Why the Norwegian oil fund blacklisted carriers for beaching

The world's largest sovereign investment fund, Norway's Government Pension Fund Global, voices fierce criticism of the practice of scrapping vessels in Pakistan and Bangladesh in its explanation for blacklisting four carriers. Conditions in India were not reviewed.

Norwegian oil fund elaborates on decision to sell out of oil

Norway's central bank, Norges Bank, which manages Norway's Government Pension Fund Global (GPFG) now explains its decision to sell out of oil and gas assets to Norwegian media in a new discussion note. However, the decision has yet to be approved by Norwegian politicians.

Norwegian oil fund elaborates on decision to sell out of oil

Norway's central bank, Norges Bank, which manages Norway's Government Pension Fund Global (GPFG) now explains its decision to sell out of oil and gas assets to Norwegian media in a new discussion note. However, the decision has yet to be approved by Norwegian politicians.

These are Norway's oil investments

Norway's Government Pension Fund Global recommends selling its stocks in oil and gas because it finds that Norway is too exposed to the sector. The fund has oil stocks worth hundreds of billions of Norwegian kroner. Learn here where the money is invested.

Oil output threatened as Norway explorers neglect North Sea

Norway's oil output could come under further pressure because oil explorers are neglecting the North Sea. This development could exacerbate an expected slump in the country's oil production in the middle of the next decade, regulator warns.

Aker BP buys Hess Norway for USD 2 billion

Aker BP has acquired Hess Norway for USD 2 billion, informs the company. The deal makes Aker BP sole owner of several fields which, according to the company, hold significant potential.

These are some of Seadrill's major bondholders

Bondholders have again become the unknown ownership element that could ultimately block a restructuring – this time at Seadrill. But there are several parties among the unsecured bondholders who support the rescue plan. Now some investors have been named.

Norwegian taxpayers could be left with Seadrill debt

The Norwegian state may have guaranteed upwards of USD 1.3 billion of Seadrill's debt, which means that Norwegian taxpayers could end up footing part of the bill if John Fredriksen's rig company goes bankrupt, reports E24.

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