Supreme court won’t hear appeal against Arctic oil drilling

Norway’s highest court (Høyesterett) has refused to hear a direct appeal filed by environmental organizations that lost their attempt to halt oil exploration in the Barents Sea. The organizations aren’t giving up, though, and will now file their complaint according to normal procedure at the appeals court level. Greenpeace, Natur og Ungdom (Nature and Youth) […]

Series wins two prizes in Cannes

NRK’s new drama series about how the oil industry changed Norway won two prizes when it debuted this week at the new International Series Festival in Cannes. Its cast and producers were celebrating. The series, called Lykkeland/State of Happiness, was one of 10 series chosen from 130 entries to be shown at the festival in […]

Oil industry drama debuts in Cannes

A new dramatic version of how Norway’s oil industry began was making its debut on Tuesday at the first Cannes International Series Festival. The new Norwegian series is the biggest TV drama ever produced in Norway, based on events that also changed the nation forever. Called Lykkeland (State of Happiness for its foreign audience), the series starts […]

Giant Statoil deals help secure jobs

Norway’s three largest offshore companies won contracts worth nearly NOK 12 billion from state oil company Statoil on Thursday that can create as many as 3,000 jobs over the next three years. The contracts are all tied to work on the next phase of development of Statoil’s huge Johan Sverdrup oil field in the North […]

Statoil’s new name pumps up critics

“No, no, no Statoil” bellowed the headline on one of the many responses in Norwegian media this week to the Norwegian oil company’s proposal to change its name. Now even Statoil’s founding chief executive, Arve Johnsen, is mobilizing opposition to the name change, claiming it’s a poor attempt to veil some of the climate- and […]

Statoil moves away from ‘state’ and ‘oil’

Norway’s state-controlled oil company Statoil has decided that its name has become “too narrow” and is thus launching an expensive project to change it to “Equinor.” Others contend the company is trying to distance itself from both its state ownership and its often controversial core business, to promote a greener, more equitable image instead. “This […]

Rape accusation haunts oil minister

Norway’s Oil & Energy Minister Terje Søviknes was back in the news this weekend, regarding an issue that has little to do with his oil politics. It’s been 18 years since he was caught in scandal and had to admit having sex with an intoxicated teenager at a Progress Party meeting in January 2000. Now […]

Oil Fund gushes with new record results

Norway’s huge sovereign wealth and pension fund that’s fueled by the country’s oil revenues reported record results for last year. Commentators quickly reported that the money earned on the so-called Oil Fund amounted to more than NOK 194,000 (USD 25,000) per Norwegian. The actual returns on the fund hit 13.7 percent, according to the annual […]

Stock market slide hits the Oil Fund

Norway’s central bank (Norges Bank) once again gathered 300 of the country’s most powerful people Thursday night, to listen to its chief’s annual perspectives on the economy. Øystein Olsen warned that recent declines in stock markets around the world can weaken Norway’s enormous piggy bank known as the Oil Fund. What goes up must come […]

Kværner lands huge Statoil contract

Western Norway and several other communities around the country were celebrating this week after Norwegian industrial firm Kværner signed contracts on a project expected to generate 4,800 jobs. Kværner will build major sections of a large floating production and storage vessel (FPSO) for Statoil, prompting the mayor in Stord, where Kværner has a shipyard, to […]