Climate activists hail oil divestments

NEWS ANALYSIS: After years of trying to steer the Norwegian government away from more investment in its oil industry, because of the damage it can cause to the climate and environment, activists on both fronts are glad that at least their politicians will listen when money talks. Climate advocates are delighted that Norway’s central bank […]

Norway exports record amounts of gas

Never before has Norway exported so much gas as it did during the last 12 months ending in October. Norway’s Statoil also emerged as one of the largest exporters of gas to the EU. Newspaper Aftenposten reported that demand for gas increased in Europe by 20 billion standard cubic meters from October 2016 to October […]

Troubled ‘Goliat’ knocked out again

Norway’s Labour Minister Anniken Hauglie has vowed that the chronically troubled Goliat platform in the Barents Sea won’t be allowed to restart operations until all its problems are corrected. It’s been shut down once again by the state petroleum agency, at a time when safety concerns on offshore oil installations are rising. “There is no […]

Lawsuit to halt oil exploration begins

Several former government ministers are among the plaintiffs when  a major lawsuit against the state gets underway in Oslo on Tuesday. The historic court case seeks to halt more oil exploration, and has been filed by environmental organizations Greenpeace and Nature and Youth, with the Grandparents Climate Campaign as intervenor. Among the grandparents objecting to […]

Kuwait invests in Norwegian oil

When Oil & Energy Minister Terje Søviknes officialy opened the new Gina Krog oil field in the North Sea this week, a man from Kuwait was standing and smiling in the background. Ali al-Mousa is chief of Norwegian operations for Kufpec, Kuwait’s state-owned oil company’s overseas unit, and it now owns 30 percent of Gina […]

Aker BP keen on more oil field stakes

In another sign that the oil industry is recovering, Oslo-based Aker BP has embarked on a shopping spree of sorts. It’s sending out clear signals that it’s interested in buying more stakes in Norway’s offshore oil fields. Newspaper Dagens Næringsliv (DN) reported Wednesday how shares in Aker BP (formed through the merger last year of […]

Kurdistan conflict hits Oslo oil firm

Shares in Norwegian oil company DNO were recovering on Wednesday, following a dive earlier this week that was tied to the ongoing conflict over Kurdistan. DNO is one of the few international firms with large oil reserves in the area, as operator of the Tawke field northeast of Kirkuk. The region has been much in […]

Explosion risk shuts down ‘Goliat’ platform

Norwegian authorities have ordered another shutdown of the huge problem-plagued Goliat platform in the Barents Sea. Now they claim the electrical system on board the platform is so poorly secured that it could set off an explosion. Magazine Teknisk Ukeblad reported that the oil industry’s regulatory agency Petroleumtilsynet is dissatisfied with conditions on board Goliat. The electrical […]

Minister resists oiling the budget

Finance Minister Siv Jensen has long been a proponent of investing more of Norway’s oil wealth at home, and dipping into it in times of trouble. Now, after branding the Norwegian economy as healthy once again, even she’s warning that the government won’t literally be oiling their proposed state budget by nearly as much next […]

Norway’s economy pumping up again

Norway was wallowing in good energy-related news on Tuesday that’s expected to further fuel its economic recovery. The country stands to gain from a recent rise in oil prices, more gas exports to Germany and even reports of climate researchers’ new calculations suggesting the planet has more time to cut carbon emissions. “It’s fantastic to […]