Edition:
United States

Henrik Stolen

Rising oil industry investment drives Spectrum revenue jump

Jan 03 2018

OSLO Seismic surveyor Spectrum's fourth-quarter revenue surge reflects a shift among oil firms towards more exploration, its chief executive told Reuters.

Norsk Hydro may restart Norway aluminum smelter unit, CEO says

Oct 29 2017

OSLO Aluminum maker Norsk Hydro may restart a mothballed Norwegian production line as global metals markets tighten following a Chinese clampdown on pollution, the company's chief executive told Reuters.

Offshore rig firms see end to worst downturn in history

Oct 04 2017

OSLO Demand for offshore rig rental globally is starting to recover from its worst ever downturn, led by oil firms' growing demand for harsh-environment exploration and triggering multi-billion dollar tie-ups among drillers hoping to profit, executives said.

Norway's right-wing government wins re-election fought on oil, tax

Sep 12 2017

OSLO Norway's tax-cutting Conservative Prime Minister Erna Solberg declared victory on Tuesday after a parliamentary election, narrowly defeating a Labour-led opposition with her promises of steady management of the oil-dependent economy. | Video

BP and Det norske agree $1.3 billion Norwegian oil merger

Jun 10 2016

OSLO/LONDON Oil companies BP and Det norske have agreed to merge their Norwegian businesses in a $1.3 billion all-share deal to cut costs, challenge Statoil's dominance of the local industry and look for more acquisitions.

Exclusive: Norway's high-yield bond market becomes latest casualty of oil turmoil

Apr 08 2016

LONDON/OSLO Norway's multi-billion-dollar high-yield bond market has become the latest casualty of the oil industry slump, with looming debt defaults for firms that operate supply ships and drilling rigs set to hammer investors who bet on the once-booming business.

Frontline says resolving Iran oil shipping insurance issues still months away

Mar 01 2016

OSLO, March 1 Frontline, one of the world's largest independent tanker firms, says securing insurance for cargoes carrying oil from Iran is likely to take another two to three months, potentially limiting Iran's ability to quickly ramp up oil exports.

Norway's Statoil, Det norske looking for more acquisitions

Jan 21 2016

SANDEFJORD/OSLO, Norway Norwegian oil firms Statoil and Det norske are looking at more acquisitions after recent deals, their chief executives told Reuters, hunting for bargains after a plunge in energy prices.

Owners must remove 60 oil drilling rigs to beat glut -analysts

Dec 07 2015

OSLO Rig owners must mothball or scrap 60 additional drilling units to end a supply glut in the offshore oil and gas exploration market as low crude prices continue to push hire rates down towards the level of operating costs, industry analysts said.

Norway must hike defence to counter Russian build-up - military chief

Oct 01 2015

OSLO Norway needs to scale up and modernise its defence as Russia's military buildup in the Arctic is creating a more uncertain security situation, its military chief said on Thursday.

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