Gasoline prices hit new highs

Oil prices have been rising again lately and gasoline (petrol) prices at the pump have shot up as well. The Circle K stations sold off by Norway’s state oil company when it was still called Statoil set a new record this week, with a pump price of NOK 17.30 per liter. That amounts to well […]

Oil and krone fuel thousands of jobs

Norway has suddenly found itself enjoying the economic effects of stronger oil prices and its weaker currency, the krone (crown). Just three years after the Norwegian economy went into crisis mode, when oil prices collapsed, a recent economic paradox is now expected to create thousands of new jobs in 2018 despite another fall in the […]

Statoil boss gets a big raise

Eldar Sætre, chief executive of Statoil, was planning to retire when he turns 62 in February. Now Statoil’s board has offered to give him a big pay raise and a huge increase in retirement benefits if he’ll stay on. Sætre reportedly is now motivated to do so. “Eldar has done a very impressive job,” Statoil’s […]

More good news for Norway’s economy

There’s been another rush of good economic news for Norway, just a week ahead of Monday’s parliamentary elections. The crisis in Southwestern Norway that was set off by the collapse in oil prices has also been called off, by the chief economist of the region’s largest bank. New numbers for August show that unemployment fell […]