Oslo residents want to halt oil production

A majority of Norwegians still want to search for more oil, but not those living in Oslo and several other Norwegian cities. Yet another survey shows fully 56 percent of the capital’s population opposed to ongoing oil exploration, and only 38 percent in favour. Residents of small towns and cities showed as many as 64 […]

Economy rebounds, as expected

State statistics bureau SSB (Statistics Norway) has confirmed predictions of a rebound in the Norwegian economy as soon as Corona regulations eased. By June, the mainland economy (excluding offshore oil) was back to its same levels from before the pandemic began. SSB reported 1.4 percent growth in the second quarter, with 0.7 percent growth in […]

Krone dips on zero interest rate

Norway’s central bank (Norges Bank) kept its key policy rate at zero on Thursday. The lack of a long-anticipated increase was expected and the Norwegian krone weakened on the news, trading at just over NOK 9 to one US dollar on Thursday afternoon. The bank’s board that decides interest rate levels and the bank’s governor, […]

Oil Fund just keeps growing

Norway’s sovereign wealth fund, fueled by revenues from the country’s oil industry, earned another NOK 990 billion (more than USD 100 billion) during the first half of the year. Its investments in stock markets abroad accounted for the most profits, leaving the fund with a return of 9.4 percent. The dizzying numbers left the total […]

Another survey backs oil industry

Support for climate-oriented political parties in Norway is rising and anti-oil activists mounted a demonstration Thursday that shut down a major oil terminal. Recent surveys, however, indicate that a clear majority of Norwegians think their government should continue to allow more exploration for offshore oil and gas.  Fully 55 percent of those responding to the […]

Support wanes for EU trade treaty

A new survey suggests that only 44 percent of Norwegians firmly support Norway’s trade agreement with the EU, called the EØS-avtale. The survey, conducted for the Norwegian foreign policy institute NUPI, reveals more public skepticism than expected in the middle of the parliamentary election campaign. Fully 32 percent of those questioned said they would vote […]

Norway’s climate policy defies UN

NEWS ANALYSIS: The front pages of Norwegian newspapers on Tuesday were all prominently featuring the UN’s dire report this week that deadly climate change is well underway. All of Norway’s biggest political parties, however, are defying the UN secretary general’s plea to stop looking for more sources of coal, oil and gas. Neither the Conservative […]

Fredriksen buys up Aker Brygge

Shipowner John Fredriksen, the Norwegian billionaire who now lives mostly in London, clearly wasn’t content to merely base his shipping operations in Oslo’s waterfront complex known as Aker Brygge. Now he’s bought up the company owning the entire complex, Norwegian Property, and more. Most of Fredriksen’s stocklisted shipping companies operate from Aker Brygge, including the […]

Departures delayed for new airline

Market uncertainty tied to Corona restrictions and government regulation have delayed the launch of new Oslo-based Norse Atlantic Airways. It aims to fill the void left by Norwegian Air’s grounded trans-Atlantic service, but now probably not until next year at the earliest. “I’m certain that the desire to travel is very strong,” Norse Atlantic founder […]

Optimism rises among business owners

Fewer Norwegian companies are worried they’ll go bankrupt, as they experience both rising revenues and an ability to bring employees back to work. Fully 68 percent reported that revenues were either back to or above normal levels in July, according to a new survey conducted by Norwegian employers’ organization NHO. That compares to 61 percent […]