More gas found in North Sea
A Norwegian regulator said a discovery of mostly natural gas was made in part of the North Sea not previously known to hold natural reserves The Norwegian Petroleum Directorate, the Continue Reading
Risks Mount for World’s Biggest Wealth Fund
Norway to withdraw $15 billion from sovereign wealth fund Cash needed to help fill an 8 percent budget shortfall Even Norway’s politicians are worried they might be taking too much Continue Reading
Norway Raids More of Massive Wealth Fund to Support Recovery
Norway is ratcheting up withdrawals from its $890 billion sovereign wealth fund to support a recovery as it foresees a continued slump for the nation’s petroleum industry. The government is Continue Reading
Oil downturn nearly over, Norway says
Though crude oil prices aren’t expected to hit the $60 range until 2019, the Norwegian government said its economy has started to move out of a standstill. The Norwegian government’s Continue Reading
Statoil revives plans for offshore giant
Operations at one of the largest fields on the Norwegian continental shelf will create economic ripples, though market vulnerabilities remain, Statoil said. Norwegian energy company Statoil said the development of Continue Reading
Norway Forced To Cancel Arctic Drilling Plans
Offshore oil Norway has pushed the oil and gas boundaries further north in recent years, opening up the Arctic for drilling. But low oil prices and environmental opposition are forcing Continue Reading
Norway’s Statoil tightens hold over Barents Sea reserves
After stating its intention to move to northern waters, Norwegian energy company Statoil said it strengthened its grip on Barents Sea assets. The Norwegian energy company said it reached an Continue Reading
Why Statoil’s $25 North Sea Break-Even Claim Is A One Off
North Sea Rig In a crippling environment of low prices, the recent announcement from Statoil’s chief executive Eldar Saetre, that due to their cost saving measures, the Johan Sverdrup oil Continue Reading
Can Norway Supply Europe With Gas Long-Term?
Arctic pipeline As the EU has pushed to reduce greenhouse gas emissions and lower the portion of energy that comes from nuclear sources, the greatest benefactors have been natural gas Continue Reading
NCS Investment Shrinks on Project Delays, Cancellations
Operators seeking to cut costs defer or cancel $50 billion in oil and gas project investment on the Norwegian Continental Shelf, Wood Mackenzie finds. Wood Mackenzie estimated a $50 billion Continue Reading