Expert warns of Arctic drilling risks

A highly acclaimed Oxford professor who’s considered an expert on energy research has thrown cold water on Norway’s hopes for a new oil era in the Arctic. Dieter Helm doesn’t think oil prices will rise much higher and are more likely to fall, making costly oil investments in the Barents Sea unprofitable. Helm, addressing an annual gathering of top oil […]

Aker Solutions cuts more jobs

Oslo-based Aker Solutions, hit hard by the slowdown in the oil and offshore industry, has announced a need to cut as many as 650 more jobs, 270 of them in Norway. Employees were informed of the looming cuts this week following a lack of new orders. Aker confirmed to newspaper Dagens Næringsliv (DN) that the cuts […]

Labour’s love lost on Lofoten debate

Labour Party leader Jonas Gahr Støre has finally confirmed that Norway’s scenic Lofoten islands need some tender loving care, with parts of their offshore waters protected from oil exploration and production. His jobs-minded party, however, isn’t extending full protection to other nearby areas, and that means few apart from Støre himself are happy with a proposed compromise announced this week. “This is an especially […]

More trouble for ‘Goliat’ platform

Norwegian petroleum authorities have signaled another security inspection of the long-troubled Goliat platform in the Barents Sea, around 90 kilometers northwest of Hammerfest. It was shut down again this week, for the fifth time since it was put in place just last year. Newspaper Dagens Næringsliv (DN) reported this week that more trouble was discovered […]

Statoil insists it’s also ‘going green’

Even as Statoil promoted a “fantastic portfolio” of oil drilling projects for 2017 this week, three of them in the sensitive Arctic, top officials insist the Norwegian oil company is also concerned about climate change and cutting carbon emissions. Statoil now admits that its drilling in the Gulf of Mexico has been unsuccessful, but newspaper Dagens Næringsliv (DN) reported this week […]

Leaders clash at NHO conference

Norway’s national employers’ organization NHO gathered some of the most powerful business and political leaders in the country on Thursday for its annual conference at Oslo Spektrum. This year’s conference centered on how companies can combine reduced carbon emissions with value- and job creation, and clashes arose immediately. No sooner had Prime Minister Erna Solberg of […]

Statoil ‘finished’ with job-cutting

Norway’s biggest company, Statoil, started off the New Year with some good news for employees: Management has decided it’s “reached its goal” for staff reductions, and will likely stop cutting more jobs. The cost- and job-cutting began in 2012, even before oil prices collapsed in 2014. Today Statoil has around 5,000 fewer employees than it did five years […]

Norway ‘rigged for an economic upturn’

Oil prices will rise, Norway’s krone will regain strength, unemployment will top out and housing prices will shoot up even higher. That’s the overall outlook for 2017 by 30 leading Norwegian economists, who think workers and employees can probably expect a better year ahead. Newspaper Dagens Næringsliv (DN) published results on Tuesday of a survey in which the economists […]

Carbon emissions rise once again

New figures released this week confirm that Norway’s carbon emissions have risen once again, and the country’s oil and gas industry is mostly to blame. For the first time, Norway’s emissions are higher than neighbouring Sweden’s, even though Sweden has a much larger population and a long industrial history. The figures from state statistics bureau […]

Statoil finally sells out of oil sands

Norwegian oil company Statoil finally did what climate activists, environmentalists and several top Norwegian politicians have been urging for years: Sell off the last of its highly controversial oil/tar sands assets in Canada. “This has been an absolutely catastrophic project for Statoil,” claimed one Greenpeace activist as others expressed profound relief. Statoil announced Wednesday night […]