The Russian Embassy in Oslo calls its relations with Norway ‘unsatisfactory’

UPDATED: Norwegian Foreign Minister Børge Brende claimed on Thursday that he’d had “a useful conversation” with his Russian counterpart, Sergej Lavrov, at the G20 summit in Bonn. On Friday, the Russian Embassy in Oslo sent out a very different message, claiming in a “comment” published on social media that Russia’s “bilateral relation” with Norway is “unsatisfactory” and “not […]

Norway’s big week on the continent

NEWS ANALYSIS: Top Norwegian officials have been busy on the European continent this week, and happy to be able to take part in a flurry of meetings at NATO in Brussels, the G20 in Bonn and the Munich Security Conference. At a time of uncertainty and even fear following the inauguration of US President Donald […]

Crime unit probes bribery at Tine

A director at Norway’s dominant dairy conglomerate Tine was treated to travel, spa visits, gifts, 145 dinners and 246 rounds of drinks over a four-year period by a seller at Tetra Pak, the packaging firm that has Tine as its sole large customer in Norway. The alleged bribery was so massive that Tine opted to report it […]

Bank boss had to alter annual address

Norway’s central bank boss Øystein Olsen had to make some last-minute changes in his important annual address on the economy Thursday evening. Just hours before he took the podium, government leaders announced they were finally going along with something he’s recommended for years: putting new limits on the use of Norway’s oil revenues. Olsen, governor of […]

Government reins in Oil Fund use

Prime Minister Erna Solberg and Finance Minister Siv Jensen, who have transferred more money from Norway’s Oil Fund to the state budget than any of their predecessors, now propose tying such withdrawals in the future to “more realistic,” and lower, expected returns. That can further limit the use of Norway’s oil revenues, and they also want to […]

Statoil optimistic in a new oil market

After years releasing a lot of bad news, the chief executive of Norway’s biggest and arguably most important company now seems defiantly optimistic. Statoil CEO Eldar Sætre even had his closest associates laughing last week, just before they all had to release some of the poorest results in the company’s history. They’re all confident that the […]

Power plant closure ‘great’ for climate

Norway’s biggest oil and energy company, Statoil, was finally being hailed on Tuesday after it announced that it was shutting down its gas-fueled power plant at Mongstad on the country’s west coast. The plant has been hugely controversial since even before it opened in 2010, it has generated heavy losses for Statoil, and its closure set for the end of next year […]

Norwegians regain faith in the economy

For the fourth quarter in a row, surveys and key indicators suggest that Norwegians have regained confidence in the country’s economy and have higher economic expectations. “It looks like things are in fact going better,” claims Idar Kreutzer, leader of the country’s national finance industry organization. Kreutzer, managing director of the nationwide organization Finans Norge, told […]

Arctic drilling suit heads for court

UPDATED: Environmental organizations Greenpeace and Natur og Ungdom (Nature and Youth) have won a court date for Norway’s first climate case, aimed at halting oil drilling and production in the Norwegian Arctic. Their breakthrough comes just after three oil companies announced their discovery of large oil and gas deposits in the Barents Sea and the government’s […]

New oil minister bullish as usual

Terje Søviknes, a veteran politician from the conservative Progress Party, made his North Sea debut as Norway’s new oil and energy minister this week when he officially opened the Ivar Aasen field, around 175 kilometers off Karmøy. Søviknes has already proven himself to be just as bullish on Norway’s oil industry as all his recent predecessors. Søviknes […]