Statoil builds Norway's largest IOR centre

Norway’s Petroleum and Energy Minister Ola Borten Moe was present in Trondheim when Statoil began construction of Norway’s biggest research centre for improved oil and gas recovery. Statoil says in a press release that their aim is to increase the recovery rate on the Norwegian continental shelf from 50% to 60%. Norway’s petroleum and energy […]

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Norway’s Economy Speeds up with Record Oil Investments

Norway already is glowing with the record amount of investments by domestic and foreign firms in oil and gas sector. The investments are predicted to increase next year as energy companies capitalise on the boom in the sector, further lifting Norway’s economic to one of Europe’s best-performing economies. Oil and gas investments in Norway will […]

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Oil Keeps Norway’s Economy Positive

Norway’s economy saw strong growth in the second quarter at the same time when other countries of European Union are going through crisis. Oil and gas dominated economy of Norway saw positive trend as consumer spending and foreign and domestic firm investment grew. Economists expected that non-oil industries will be affected by the strong currency […]

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Growth in petroleum-focused supplier industry

A recent survey by Norwegian Ministry of Petroleum and Energy found that suppliers from petroleum sector are witnessing noticeable growth in sales trend. The amount of sales has grown by 3 times since 2000. Suppliers reported international sales of NOK 150 million which is around 40% of total petroleum industry sales. Minister of Petroleum and […]

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