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norway

(Kristian Helgesen/Bloomberg)

Norway’s prime minister relieved as nation avoids crisis of sub-$45 crude

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Brent crude, the lifeblood for a nation that depends on petroleum for about 20 percent of its economic output, has rallied more than 40 percent since a Jan. 13 low of about $45.
(Photographer: Andrey Rudakov/Bloomberg)

Shell profit falls by more than half, but beats analyst estimates

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Shell is cutting investment after oil’s slump over the past year forced producers to defer projects to strengthen their balance sheets.
(Getty)

Norway on bubble watch as anxiety over oil plunge recedes

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Threats from Norway’s hot housing market have trumped anxiety that forced Governor Oeystein Olsen, 63, to deliver a surprise rate cut in December, when oil sank to about $63.
The FPSO Petrojarl Knarr is producing oil for BG Group off the coast of Norway. (image courtesy BG Group)

BG Group announces production from North Sea field

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The Knarr oil field was discovered in 2008, and BG Group estimaes it has 80 million barrels of oil equivalent in gross recoverable reserves.
(Getty)

Norway has an $18 billion plan to shift away from oil

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Western Europe’s biggest crude producer is facing what central bank Governor Oeystein Olsen calls a “period of restructuring” amid plunging oil prices.
(Daniel Acker/Bloomberg)

Statoil agrees to pay $2 million for illegal well in North Dakota

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Authorities say the well was drilled in December 2011 on unleased federal land about two weeks after Statoil Oil & Gas Services Inc. acquired Brigham Oil & Gas L.P.
(Kristian Helgesen/Bloomberg)

Oil slump threatens easy life of affluent Norwegians

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After a decade of an oil-and-gas boom, plunging energy prices are shaking Norwegians out of a Utopian reverie that guaranteed workers lengthy summer vacations, generous health and social benefits, and allowed them to leave work at 4 p.m. and even earlier on Fridays.
The J. W. McLean offshore drill rig, operated by Transocean Ltd., stands anchored in the Cromarty Firth beyond the prow of the offshore pipelay vessel Deep Energy, operated by Technip SA, in Invergorgon, U.K., on Wednesday, Aug. 6, 2014. (Photographer: Simon Dawson/Bloomberg)

Technip, Aker Solutions to cut 2,100 more oil jobs

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Executives at Paris-based oil equipment maker Technip told investors in a conference call the firm has cut 1,800 jobs in recent months, about 15 percent of which were contracted.
(Kristian Helgesen/Bloomberg)

Norway rejects call to cut oil taxes as cure for crude crash

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Oil companies in the country are preparing to cut investment by 15 percent this year.
Eldar Sætre, president and CEO

Statoil names new CEO

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The Norwegian oil giant’s former CEO Helge Lund is taking the reins of BG Group.