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