‘Goliat’ platform in trouble again

The huge Goliat oil platform, Norway’s first in the Barents Sea, is still plagued by so many technical problems that safety regulators are warning they’ll issue an injunction to halt operations if the problems aren’t solved. The order comes just after Goliat came under new management and altered ownership this week, and as Norway must […]

Norway falls in climate rankings

Norway’s Climate and Environment Minister Ola Elvestuen was worried before he traveled to the UN’s climate summit in Poland this week, and he had good reason to be. While he voiced concern over “too many disagreements” among participating nations, Norway itself hasn’t done very well in cutting its own carbon emissions, and tumbled in new […]

Bergen is most future-oriented

Norway’s West Coast city of Bergen has preserved its history but also is best equipped to tackle the future, according to a survey of the country’s 71 largest cities. Bergen tops the list, followed by Bryne farther south in Rogaland, and Kongsberg, which has been attracting new businesses for years. The survey, conducted by consulting […]

‘Krone’ weakens as oil prices fall

Norway’s krone has been losing value again this week, after oil prices sunk back to where they were last spring. It cost just over NOK 8.50 to buy one US dollar Wednesday afternoon, even after oil prices slightly recovered. The price of a barrel of Norway’s North Sea crude oil, the country’s most important export […]

New oil discovery ‘important’

Norway’s state oil company Equinor called the discovery of more oil in the Barents Sea “important,” when announcing this week that a well drilled near the Johan Castberg field can yield 25 million barrels. Nick Ashton, in charge of Equinor’s offshore exploration on the Norwegian and British continental shelfs, said oil from the new well […]

Oil Fund battered but still booming

NEWS ANALYSIS: Norway’s huge state pension fund known as the “Oil Fund” was back in the news this week, most recently for earning another dizzying amount of money in the third quarter. It’s been battered by the recent global stock market unrest since, though, and debate continues over whether it should stop investing in the […]

Oslo Stock Exchange tops all the others

The Oslo Stock Exchange (Oslo Børs) has provided better returns for investors this year than any other stock exchange in the world. The small but financially mighty bourse reflects the effect rising oil prices have had on the resurgent Norwegian economy, and even the economic redevelopment of the neighbourhood surrounding it. Surrounded by a fenced-in […]

Climate change threatens Svalbard

After decades of warnings, Norway’s Arctic settlements on Svalbard are suddenly facing more dramatic effects of climate change. Its current, highly visible consequences on Svalbard are emerging just as climate and environmental advocates met once again last week, for a Global Climate Action Summit in San Francisco that also attracted Norwegian officials caught between efforts […]

Employers plan to hire more workers

Employment prospects are looking up again in Norway. A new survey shows that many companies are planning to do more hiring by the end of the year, while employers in four out of five reagions in Norway plan to increase staffing. “Employers looking for new talent will need to prepare for tough competition,” Maalfrid Brath, […]

Two ministers leave the government

Transport Minister Ketil Solvik-Olsen confirmed on Thursday that he’s steering a new course, and resigning after five years as one of the Progress Party’s most popular top government officials. More ministerial changes are due to be formalized at the weekly Council of State on Friday. Newspaper Dagbladet reported that Solvik-Olsen is stepping down as transport […]