Tag Archives: oil

Norway’s national wealth: Transition from oil to knowledge

On the Edge – An opinion column about current issues in Norway By Siv Jensen, leader of the Progress Party Written exclusively for the Norwegian American Weekly Over the past seven years, Norway’s disability pensioners have increased by 228,279 people and added NOK 2 trillion more in the Oil Fund. Over 100,000 students have dropped out of ...

The great economic divide

Photo: Øyvind Hagen / Statoil Photo: Øyvind Hagen / Statoil Photo: Photo: Øyvind Hagen / Statoil

Norway’s oil and gas sector brings growth to some businesses, while others struggle with high costs On Feb. 9, Norsk Industri presented its annual assessment of current condition and outlook for the year. “We see the [oil and gas] industry as Norway's golden egg,” says Communications Director Finn Langeland of Norsk Industri (Federation of Norwegian Industries), holding ...

Statoil posts Q2 profit surge

By IAN MacDOUGALL (AP) OSLO, Norway — Norwegian oil company Statoil ASA said second-quarter net profit surged to 3.6 billion kroner ($584 million) from only 77 million kroner a year earlier, as increased production and rising oil prices offset a weak natural gas market. For Full Story & Source: AP

Statoil named as possible buyer of BP assets

28 July 2010 - Norwegian oil major Statoil ASA (OSL: STL) could be one of the potential buyers now when UK energy major BP (LON: BP) will sell assets worth USD30bn to cover its debt, Oystein Noreng, professor in petroleum economics, told yesterday Norwegian news source E24.no. Statoil has a lot of money ...

Lofoten has less oil than expected

Lofoten

The sea areas off Lofoten and Vesterålen contains less oil and gas than the industry has believed. NPD's new estimate is 1.3 billion barrels. It is far less than what the Norwegian Oil Industry Association (OLF) think hiding under the seabed off Lofoten and Vesterålen, namely 3.4 billion barrels. Compared with the largest fields on the ...

Aker Solutions wins major contract for two FPSOs in Brazil

Aker Solutions has signed a major contract with Petrobras to supply sulphate removal units for two FPSOs (Floating Production Storage and Offloading) platforms which will operate offshore Brazil. Contract value is USD 41 million. The scope of work comprises the supply of two sulphate removal systems (SRUs) with associated equipments. The SRU systems will be installed ...