Category: Norway

While Canada and the U.S. ban Arctic drilling for oil and gas motivated by environmental concerns, and majors such as Shell pull out of their Arctic projects due to financial Continue Reading

The start of new production in the North Sea is a testament to the enduring strength of Norway’s energy sector, the country’s energy minister said. Norwegian Energy Minister Terje Soviknes Continue Reading

Explorers look set to drill a record number of wells in Norway’s Arctic waters this year, undeterred by oil prices apparently stuck below $60 a barrel. After making a discovery Continue Reading

Norway’s economic growth picked up slower than anticipated in the fourth quarter as western Europe’s biggest crude producer emerges from a protracted slump in its oil industry. Mainland gross domestic Continue Reading

Norwegian energy company Statoil said Friday it found more gas in part of a field it discovered two years ago in the North Sea. Statoil said it made the discovery Continue Reading

Production from offshore Norway slumps in December, though full-year output recorded another consecutive year of gains, government data show. File Photo by A.J. Sisco/UPI STAVANGER, Norway, Jan. 17 (UPI) — Continue Reading

Government plans to diversify the economy come under fire Reducing Norway’s oil dependency and living up to campaign promises is proving a costly affair for Prime Minister Erna Solberg. With Continue Reading

Norwegian energy major Statoil said it would drill 30 percent more exploration wells than it did in 2016 and most of those will be in domestic basins. The oil and Continue Reading

After reporting production gains, the Norwegian government confirmed a discovery Friday of at least 25 million barrels in its waters of the North Sea. The Norwegian Petroleum Directorate said it Continue Reading

Consent is given to energy company Statoil to start drilling an appraisal well in the Johan Sverdrup oil field in the North Sea, the Norwegian government said. The Petroleum Safety Continue Reading

Oil and gas companies in Norway cut spending forecasts for 2017, deepening what was already a record reduction in offshore investment. The companies expect to invest 147 billion kroner ($17.2 Continue Reading

3 of 4 offshore rigs may be idled by end of 2017: Henriksen Offshore suppliers seen facing at least 2-3 more years of pain The offshore fleet tending to Norway’s Continue Reading

Patience is paying off for an oil reserve area discovered 30 years ago that’s now ready to deliver for Norway at a lower cost, energy major Statoil said. The Norwegian Continue Reading

The company logo of Statoil is seen during a company results presentation in London February 6, 2015. Statoil and partners will invest 5.5 billion Norwegian crowns ($665.51 million) in the Continue Reading

Statoil ASA, the first of the major oil producers to report third-quarter earnings, posted an unexpected loss for a second quarter in a row as maintenance and exploration expenses compounded Continue Reading

Environmental group Greenpeace said Tuesday it filed a lawsuit against the Norwegian government for giving energy companies consent to drill in Arctic waters. The group’s Norwegian branch and regional advocate Continue Reading

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

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 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

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

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

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

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

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

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

Oil and gas companies operating in Norway, western Europe’s biggest producer, cut investment forecasts further for this year and next as they continue to weather a two-year long collapse in Continue Reading

Norwegian energy company Statoil said Friday it planned to spend more than $100 million to tap into new a oil and gas discovery in the North Sea. Statoil and its Continue Reading

Norwegian energy company Statoil said it started drilling operations at a field above the Arctic Circle to prepare to rebuild area natural gas stocks. Statoil said it started drilling an Continue Reading

Oil output poised to defy predicted decline again in 2016 More efficient operations increasing output regularity: Petoro For Norway, the collapse in crude prices has a silver lining: output has Continue Reading

The Norwegian government said it gave its consent for new oil and natural gas operations offshore in the North Sea and Barents Sea, with Statoil the big winner. Statoil was Continue Reading

The Norwegian government confirmed Wednesday an oil and gas discovery was made in a North Sea area not previously known to contain hydrocarbons. The Norwegian Petroleum Directorate confirmed a discovery Continue Reading

Construction started Thursday for part of a platform that will deploy at the giant Johan Sverdrup oil field, Norwegian energy company Statoil said. Project director Kjetel Digre was on hand Continue Reading

When Dagens Næringsliv (DN) reported on Friday that the government coalition and its two support parties had reached a deal to stop the sale of petrol and diesel vehicles in Continue Reading

Oil companies in Norway, Western Europe’s largest oil exporter, expect to slash spending for the third consecutive year in 2017 as they continue to downsize, delay projects and cut costs, Continue Reading

As oil prices rise on market balance sentiment, the Norwegian government said oil production in April was 3 percent higher than expected. The Norwegian Petroleum Directorate published preliminary production figures Continue Reading

Norway awarded licenses to 13 oil companies as it expands into an entirely new part of the Arctic Barents Sea in an area previously disputed with Russia in a bid Continue Reading

Norway’s government boosted the amount of oil money it will spend this year, dipping deeper into its sovereign wealth fund to ward off a recession. The government in its revised Continue Reading

Men facing the brunt of the pressure from low oil prices int the Norwegian labor pool, government data show. File photo by A.J. Sisco/UPI OSLO, Norway, April 28 (UPI) — Continue Reading

Statoil ASA reported its worst-ever adjusted earnings as crude prices fell the lowest in almost 12 years. Still, the company beat estimates for a loss as cost savings are having Continue Reading

While the oil industry continues to cut jobs, projects and costs amid low crude prices, one region is making a surprise comeback after years of declining activity, company executives and Continue Reading

Oil major Royal Dutch Shell has pulled its application from Norway’s Arctic-focused oil licensing round, the firm said on Monday, in a blow to the Nordic country’s ambitions to explore Continue Reading