Marathon buyout worth billions

Det Norske Oljeselskap announced on Monday it had bought out Marathon Oil Norway for NOK 12.6 billion (USD 2.1 billion). The acquisition extends industrialist Kjell Inge Røkke’s hold on the Norwegian continental shelf, while new figures show oil recovery out of the area is at 26-year low.  Røkke is the majority shareholder in both Det […]

Traaseth to head Innovation Norway

Anita Krohn Traaseth was announced on Thursday as the new chief executive of Innovation Norway (Innovasjon Norge). The former CEO of computer company Hewlett-Packard Norway said she planned to make the organization more visible and clear. Innovation Norway is a state agency aimed at developing and promoting Norwegian enterprises and industry, both domestically and overseas. […]

Flytoget still public’s favourite company

The company running the express train that serves Oslo’s main airport at Gardermoen, Flytoget, topped the list of Norwegians’ favourite companies for the third year in a row. An annual research project by the Norwegian Business School BI (Handelshøyskolen BI) surveyed more than 7,000 consumers about their satisfaction levels with the businesses they regularly shop […]

Aker Solutions set to split into two

Major Norwegian engineering company Aker Solutions will be divided into two businesses in a move hoped to make the company more competitive. The subsea, umbilicals, engineering and maintenance, modifications and operations areas will form a new company under the name of Aker Solutions, while other areas will be incorporated into an oil services investment company, […]

Telenor slashes Norwegian jobs

Telenor, the Norwegian international telecommunications giant, slashed almost 850 jobs throughout spring. Unions accused Telenor of “social dumping” by outsourcing work to cheaper Asian markets, but the company argued it had to restructure to stay competitive. Last month the partially state-owned company said it needed to cut 450 full time equivalent positions from its Norwegian […]

Family feuds over business sale

Frederik Wilhelm Mohn took to the Norwegian media on Monday to rage against his father, billionaire businessman Trond Mohn, after he secretly sold the Bergen-based family company Frank Mohn AS for NOK 13 billion (USD 2.2 billion). Swedish industrial engineering company Alfa Laval bought the pump manufacturer, but Frederik argued he should’ve had the first […]

Norwegian took ‘all the aircraft’

Norwegian Air’s Chief Executive Bjørn Kjos told a packed house at a student conference in Oslo this week that his company’s long haul operation was at least five years ahead of main rival Ryanair’s, because Norwegian has “taken all the aircraft.” Meanwhile, a court has decided an unfair dismissal case filed by a Norway-based Ryanair […]

Telenor cuts costs, slashing 450 jobs

Telecommunications giant Telenor will cut 450 full time equivalent (FTE) positions as part of a major downsizing of its Norwegian operations. It means about one in 10 jobs will be lost, and all 4,000 employees were encouraged to apply for severance packages on Wednesday. Telenor Norway’s Chief Executive Berit Svendsen said the redundancies are part […]

Angry Norwegian customers to sue

Norwegian Air customers refused compensation by the trouble-plagued budget carrier can take the airline to court, backed by the Transport Appeals Board (Transportklagenemnda). On Tuesday the board said it would cover the legal expenses of any plaintiffs to get a judicial clarification on the case. “We want a few cases so that the lawsuit gets […]

Solberg: Norway ‘can’t be mediocre’

Good education is the key to maintaining Norway’s prosperous welfare state, as the country moves towards a less oil-driven economy. To that end, talks are underway between the government and teachers unions to make education a more attractive career, Prime Minister Erna Solberg’s announced when she opened the Confederation of Norwegian Enterprise’s (Næringslivets Hovedorganisasjon, NHO) […]