Coping with a ‘necessary crisis’

Some oil industry workers are feeling alone these days after losing their jobs, but their numbers are rising. PHOTO: Statoil/Harald Pettersen

The steep decline in the price of oil has already cost thousands of jobs in Norway and triggered uncertainty in a once-gushing industry, yet even the head of its national trade association calls the cutbacks “painful but necessary.” Some companies are catching the blame for creating the “oil crisis” themselves, while others are simply coping as best […]

Aker job cuts signal new wave of layoffs

An engineer suspected of terrorism ties was arrested at Aker Solutions' offices at Fornebu. PHOTO: newsinenglish.no

Oil industry officials were fearing a new wave of layoffs on Tuesday after Norway’s large oil service firm Aker Solutions announced that as many as 500 employees will be losing their jobs. The large-scale layoff will affect full-time Aker workers at the company’s Oslo headquarters at Fornebu and at company operations in Stokke, Moss and Tranby. […]

Oil company cuts hit cultural events

Oil companies have been big sponsors of cultural events in Norway for years, but now several are cutting back or pulling out in the wake of falling oil prices. Sponsorship money has become much harder to get. State broadcaster NRK reports that several oil industry sponsors have withdrawn funding for the Chamber Music Festival in […]

Caviar-maker opts for super-slow TV

A tube of Mills caviar is a staple on many Norwegian breakfast tables, usually eaten with hard-boiled eggs. PHOTO: Mills

Norwegian food producer Mills has turned to super-slow TV to market and promote its classic Mills Kaviar, which comes in a tube and is popular on many Norwegian breakfast and lunch tables. Its slow-TV pitch, which will follow the 11-month process of preparing and maturing the caviar for consumption, seems to be working. Norwegian Broadcasting (NRK) […]

Oil minister tries to stay optimistic

Oil Minister Tord Lien (center, on board the Ekofisk platform) remains bullish about the prospects for Norway's oil industry, despite the current slump. PHOTO: Olje- og energi departementet

After another week of low oil prices and rising unemployment, Oil Minister Tord Lien was grasping for bright spots in the industry he oversees. He finally found one on Friday, and claims he’s still optimistic about oil’s long-term future. Lien has made it clear that he remains bullish on prospects for the largest and most important sector of […]

Conflict erupts over job lay-offs via email

At least 1,700 oil services workers in Norway were facing layoff this week, more than 200 of them in a company that’s now being sued by the union representing them. Newspaper Stavanger Aftenblad reported that the large Norwegian union for oil workers, Safe, was not happy that 229 of its members who were made redundant during the summer […]

Electric car craze keeps rolling along

Lots of electric vehicles were rolling towards Geiranger for an EV festival this weekend. Norway now boasts one of the largest markets in the world for the quiet cars.  PHOTO: El-bil forening

There are now so many electric vehicles in Norway that state authorities will soon run out of the special “EL” license plates made to identify them. A second series of plates is due to be introduced as electric car owners and fans gathered in the fjord town of Geiranger this weekend, to celebrate at an electric […]

Åhléns to pull out of Norway

The popular Swedish chain of home furnishings stores, Åhléns, is pulling out of Norway after 17 years of good results. It’s a rare case of a company shutting down not because of hard times, but good ones, and a change in corporate strategy. The pending pull-out, though, means another wave of job losses at a […]

Stocks recover but krone stays weak

New figures from Statistics Norway show a sharp drop in the number of job advertisements over the past year, signalling tougher times ahead. Consumer confidence is nevertheless continuing to recover, with regards to both Norwegians' personal finances and the expectations for the national economy. PHOTO: Norges Bank

Norwegian share prices and foreign exchange rates continued to swing in the midst of more market turbulence on Thursday. Share prices rose, but the krone remained weaker than it’s been for more than a decade. It cost more than NOK 8.30 to buy one US dollar for most of the day in Norway, the weakest showing for the krone […]

Private investors back new cancer clinic

Two of Norway’s leading businessmen, both of them cancer survivors, are moving forward with plans to help build a new clinic where cancer patients can receive treatments at the national cancer hospital Radiumhospitalet. If all goes as planned, the clinic may open as early as 2018. Øyvind Eriksen, longtime chief executive at industrial firm Aker and a […]