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The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil profit beats estimates

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Statoil and competitors such as Royal Dutch Shell Plc and Total SA are cutting investments and operational costs after oil prices fell by about 50 percent over the last 12 months.
(Kristian Helgesen/Bloomberg)

NOV cuts 1,500 jobs in Norway amid crude crunch

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More than 20,000 oil and gas workers in Norway have been cut since the beginning of 2014.
(Photo: JOHN DAVENPORT/SAN ANTONIO EXPRESS-NEWS)

Statoil to cut 2,000 jobs, adding to Norway’s woes

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The job losses at Statoil, Norway’s No. 1 oil and gas producer, add to thousands more in the country’s offshore energy industry after crude collapsed in the second half of 2014
(AP file photo/John McConnico)

Norway government loses in drive to expand Arctic oil boundary

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Even as a drop in oil prices makes Arctic exploration less attractive, Norway is betting on success in the Barents Sea, thought to hold more than 40 percent of its undiscovered resources. The Nordic country’s oil output, still western Europe’s biggest, has been more than halved since a 2000 record.
(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.