Energy crisis fuels Norway’s currency

The Norwegian krone has strengthened markedly in recent weeks, as has the country’s economy in general. It’s a case of the rich getting richer, as the energy crisis boosts the price of Norway’s oil, gas and electricity at the expense of its trading partners. The krone (crown), which rises and falls in line with oil […]

Complaints pile up against Equinor

Environmental organizations and some stock analysts are complaining that troubled state oil company Equinor isn’t disclosing all its carbon emissions to the public and investors. Meanwhile, concerns over cost-cutting and a lack of maintenance at various facilities continue to rise, while Equinor itself has postponed a reopening of its Hammerfest LNG gas plant on the […]

Fire hit Equinor gas plant

State oil company Equinor has been hit by yet another accident, this time at a gas plant in Møre og Romsdal where fire broke out Wednesday afternoon. Firefighters feared an explosion but managed to put the fire within an hour. Around 30 workers were evacuated after the fire reportedly started in a compressor building at […]

Equinor’s Melkøya fire under investigation

A spokewoman for Norway’s Petroleum Safety Authority called a fire Monday at Equinor’s gas plant on the island of Melkøya off Hammerfest “one of the most serious incidents in Norwegian petroleum history.” A  full investigation was underway, to find out how it could have begun to burn. “A fire of this extent is very serious,” […]

Illegal emissions at Equinor gas plant

State oil company Equinor’s large natural gas plant at Melkøya outside Hammerfest has reported illegal emissions and pollution every year for the past 10 years. There haven’t been any punitive consequences, however, apart from official reminders that compliance is expected. Newspaper Finnmark Dagblad reported on the illegal emissions last weekend, and the national media has […]

Norway’s oil ‘good to the last drop’

The Norwegian government, the oil directorate and the oil industry itself have all confirmed what climate activists feared. They’ll keep searching for and producing offshore oil and gas until either it or demand for it disappears. That was further confirmed this week, when new Oil & Energy Minister Sylvi Listhaug handed out 69 new exploration […]

Debt adds to the oil dependency threat

NEWS ANALYSIS: Norway’s dependency on its oil and gas industry isn’t the only thing threatening the economy. After a week of falling oil prices, state financial regulators are also sounding alarms over Norwegians’ record high household debt at a time when interest rates are due to rise. “The household debt burden, measured in terms of […]

Climate debate will still flare in Norway

NEWS ANALYSIS: Norway nurtures an environmentally conscious image, but the country still has a long way to go in tackling its own climate challenges. Its oil and gas companies, offshore sector, farmers, airline passengers and commuters have a lot more changes to make if the country is to meet the climate goals to which it’s […]

Huge investment planned for ‘Troll’

Norway’s newly renamed oil company Equinor and its partners announced more huge new investment in their large Troll oil and gas field in the North Sea on Tuesday. With oil prices rising, the plan calls for extending the field’s lifetime and tapping its value for all it’s worth. The Troll field, located around 65 kilometers […]

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 […]