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 […]

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 […]

‘Scandal’ looms at Statoil refinery

Top officials of Norwegian oil company Statoil were summoned on Friday to the offices of state oil industry regulators for the second time this week. They were ordered to explain why they withheld information about systems errors that have inadvertently disrupted and even halted production at Statoil’s oil refinery at Mongstad. The errors, which stretch back to 2014, […]

Darker days for Norway’s Statoil

Statoil, hit by a string of serious accidents lately, had to deal with more bad news on Thursday when its third-quarter financial results showed another steep financial decline despite vigorous cost-cutting. State officials’ biggest concern now is to make sure that Statoil’s cost-cutting isn’t cutting into safety as well. Statoil was under pressure on many fronts this week, from regulators, […]

State ensures development of new gas field

After some skeptical oil companies gave up plans to develop Norway’s Dvalin gas field in the Norwegian Sea, Norway’s state-owned oil company Petoro stepped in to make the investment and do the work, reports newspaper Dagens Næringsliv (DN). Petoro, which runs the state’s own offshore oil interests, thus saved the development that Oil & Energy Minister […]

Pressure grows on scenic Lofoten

One of Norway’s most scenic tourist magnets, the Lofoten peninsula, and the spectacular neighbouring areas of Vesterålen and Senja are once again under pressure. Record numbers of tourists are generally welcome, but now both the oil industry and the Conservatives-led coalition government are urging oil exploration and production in nearby waters that also are famed as rich […]

Higher emissions don’t daunt leaders

NEWS ANALYSIS: Just days after the Norwegian government announced controversial plans to drill for more oil and gas in new areas of the Arctic, came news that Norway’s own carbon emissions have increased for the first time since 2010. The increase was blamed almost entirely on the country’s oil and gas industry but political and industrial leaders are […]

IEA urges higher electricity rates

If there’s one thing that’s relatively reasonably priced in Norway, it’s electricity, but international experts think electricity rates could and should double within the next 15 years. They also think diesel- and gasoline-driven cars will all but disappear by 2050. These are among conclusions in a new report from the International Energy Agency (IEA), the independent organization set […]

Statoil boosts stake in Lundin, sells off in US

Norway’s state oil company Statoil announced on Tuesday that it was boosting its stake in Lundin Petroleum to 20.1 percent through a series of ownership swaps in oil fields and a cash payment. At the same time, Statoil is selling off its Marcellus shale gas stake in West Virginia in the US. Statoil said it […]

Wage talks postponed after helicopter crash

Negotiations between oil industry employers and unions representing oil industry workers were supposed to begin on Monday, but both sides have decided to postpone them. Neither felt it was right to talk about pay and benefits just two days after workers being flown home from a North Sea rig were killed when their helicopter crashed […]