Industrialist bids for Norske Skog

UPDATED: Jens Ulltveit-Moe, one of Norway’s most well-known investors who’s lately become a climate activist, has emerged as among the bidders for Norwegian forestry firm and paper producer Norske Skog. While another major Norwegian industrialist ended up dropping out of the bidding process this week, Ulltveit-Moe sees a future for Norske Skog as a bio-energy […]

Mixed reaction to Statkraft privatization

A proposal to sell off some of the state’s stock in the now wholly state-owned electricity producer Statkraft has received a mixed reaction from the Members of Parliament who’d need to approve the partial privatization. The proposal, put forward by the Conservative Party that leads Norway’s minority coalition government, is backed by its two small […]

Profits predictably plunged at Statoil

Norway’s largest company Statoil, battered by the fall in oil and gas prices, saw profits plummet once again during the first three months of this year. They were down by more than two-thirds, but not much worse than analysts had expected and the company is making more moves to diversify into renewable energy. Statoil reported […]

‘Norway’s oil age is not over,’ yet

Tord Lien, Norway’s government minister for oil and energy, isn’t letting himself be overly concerned by the recent, some say dramatic, fall in oil prices. Lien believes oil companies will continue to be interested in tapping into Norway’s large oil reserves, and that there are still large amounts of oil and gas off Norway just waiting […]

REC clouds lift after solar spin-off

Shares in troubled Norwegian solar energy firm REC soared on Thursday, fuelled by news of a major restructuring that will split its solar and silicon activities into two separate businesses and leave both listed on the Oslo Stock Exchange. The decision follows months of uncertainity over the financial health of Renewable Energy Corp, once a […]

State OKs major windmill project

Norwegian authorities have approved plans to build five new wind-power plants in the western county of Rogaland. The project, involving erection of large windmills, could double Norwegian production of wind power. The windmills will be constructed in the townships of Bjerkreim, Hå and Gjesdal and together produce as much as 1.3 twh of power annually. […]