Shell cuts another 231 jobs

The oil industry crisis isn’t over for the Norwegian subsidiary of Dutch oil company Shell. Its Shell Norge unit plans to lay off 75 full-time employees later this year, plus another 156 workers hired in on a temporary basis. The job cuts come as work winds down on Shell’s Draugen platform in the Norwegian Sea and at its gas plant […]

Oil Fund asked to dump pipeline, coal

The president of Norway’s Sami Parliament (Sametinget) accompanied women from the Standing Rock Sioux Tribe to a meeting in Oslo this week, where they appealed to the Ethics Council that oversees the investments of Norway’s huge Oil Fund. They want the Oil Fund, which is under coal scrutiny as well, to dump its stakes in the three companies behind […]

New airline faced delay on take-off

A new airline that’s launching routes in Northern Norway, FlyViking, took off for the first time on Monday morning. Its first departure from Tromsø, however, was delayed by stormy weather that continues to hammer the far north. The airline’s maiden flight from Tromsø to Hammerfest was supposed to depart at 5:50am, with its founder Ola Giæver […]

DNB pulls out of Dakota Pipeline

Norway’s biggest bank, DNB, has responded to public protests and political criticism over its involvement in the highly controversial Dakota Access Pipeline project in the US, by pulling out of the project entirely. Attention has now turned to whether Norway’s Oil Fund will do the same thing. “We have learned a lot from this issue,” said […]

Unemployment declines, but fewer working

Both Norway’s employers’ organization NHO and its largest trade union confederation LO are warning against getting too optimistic about the decline in unemployment. A downturn in new job creation means overall employment is down as well. “These numbers can look good,” Øystein Dørum, chief economist at NHO, told news burean ANB after the latest unemployment […]

Statoil makes more big investments in Sverdrup

Norwegian oil company Statoil was busy handing out more large contracts this week, and raising spirits in the still-sluggish oil and offshore industry. This time the main beneficiaries were, once again, Aker Solutions and Kværner plus Siemens. Aker Solutions will deliver process platforms in the second phase of development on the Johan Sverdrup oil field, Kværner […]

Troubled Westerdals set for takeover

Westerdals, the private communications school in Oslo whose owners landed in trouble after claiming too much public funding and over-charging students, has been bought up by Kristiania University College for NOK 85 million. Kristiania will also assume responsibility for more than NOK 100 million in legal claims against Westerdals. Kristiania, owned by the Ernst G Mortensens Foundation, […]

Publishing firms fined for collusion

Norway’s four largest publishing companies (Aschehoug, Cappelen Damm, Gyldendal and the former Schibsted Forlag) have been fined NOK 32 million (USD 3.8 million) for what state competition authorities call “illegal cooperation.”  State officials at Konkurransetilsynet claimed that the publishing firms broke Norway’s competition law by “collectively boycotting” distributor Interpress, and sharing competitively sensitive information. Interpress […]

Statoil strategist secures severance

Norwegian oil company Statoil has quietly confirmed that its low-profile executive John Knight will be resigning his post at chief strategist on January 1, 2019. He’ll be taking with him a severance pay package that makes the many others paid out by Statoil, as part of its cost- and staff-cutting in recent years, pale in comparison. Newspaper […]

Telenor demonstrated new 5G network

Norway’s Telenor and Sweden’s Telia are racing to be the first to provide the next mobile phone network, 5G. Telenor demonstrated its technology this week, with government minister Ketil Solvik-Olsen pressing the button that quickly brought communications speed up to more than 70 gigabits a second. Telenor’s 5G system will mean that mobile phone signals in […]