Wednesday , January 29 2020
Breaking News
Home / International Customs / Norway (page 37)

Norway

Norway’s BASF expects drop in profit in 2015 due to lower oil price

OSLO: BASF, the world’s largest chemical firm by sales, expects operating profit to stagnate this year due to lower oil prices and the cost of launching an unusually high number of production sites. The company, whose products include car coatings, foam chemicals, catalytic converters and mining chemicals, said the prospects of somewhat stronger global economic growth this year were nevertheless ... Read More »

Caverion Corporation signs agreement with Eneas on purchase of Esco Norway AS

OSLO: Caverion Corporation has signed an agreement with Eneas Holding AS on the purchase of the Norwegian company Esco Norway AS. Esco Norway is an energy services provider with expertise in EPC contracts (Energy Performance Contracting), BMS (Building Management System), EMS (Energy Management Systems), energy advisory services, and engineering. In 2014, the company’s revenue was EUR 4.8 million. The company ... Read More »

Norway govt remedies European free trade association’s concern regarding tax on pharmacies

OSLO: The European Free Trade Association’s Surveillance Authority has closed a state aid investigation into the Norwegian Government’s support for publicly owned hospital pharmacies after the nation implemented a number of measures to remedy its concerns, including a new tax on these pharmacies’ proceeds. The Authority explained that it had challenged the arrangements for public sector pharmacies as they compete ... Read More »

European association to support Guatemala’s accession to EFTA-Central America free trade agreement

OSLO: European free trade association will support Guatemala’s accession to the EFTA-Central America Free trade agreement and will resume free trade negotiations with India and Indonesia. EFTA, which comprises Iceland, Liechtenstein, Norway, and Switzerland, also announced that a first round of talks towards an FTA with the Philippines will be held at the end of March, and work has begun ... Read More »

Norway govt rejects call to cut oil taxes amid plunging crude prices

OSLO: Norway’s government rebuffed pleas to cut oil taxes amid plunging crude prices, calling on the nation’s largest industry to cut costs to weather the slump. “We don’t think you should answer lower oil prices by changing the tax system,” Prime Minister Erna Solberg said Wednesday at the Oslo Energy Forum, a conference attended by top executives from Statoil ASA, ... Read More »

Norway Aibel wins contract worth $1.05b from Statoil to build drilling platform

OSLO: Norwegian engineering firm Aibel has won a contract worth 8 billion crowns ($1.05 billion) from Statoil to build a drilling platform for the Johan Sverdrup field, one of the biggest deals for the giant North Sea field. Aibel, a subsidiary of Swedish private equity firm Ratos , plans to deliver and install the platform in 2018, a year before ... Read More »

Atlantic petroleum announces farm-down deal with Norway’s Statoil on PL602 licence

OSLO: Atlantic Petroleum announces that the company has entered into a commercial farm-down agreement with Statoil Petroleum AS (“Statoil”) related to the PL602 licence. PL602 is located in the Vøring Basin, close to the Aasta Hansteen Field Development. The licence contains several prospects and leads within the same play model as that already proven by the Luva, Haklang and Snefrid ... Read More »

Lithuanian Mobile Worker raises €500,000 from Norwegian JBO Holding AS, Uni Micro Holding AS

OSLO: Lithuanian mobile workforce management solution Mobile Worker who had reached 15,000 B2C users in past year announced that it has raised €500,000 from two major Norwegian private holdings JBO Holding AS and Uni Micro Holding AS and developed a B2B version. Long before the announcement Mobile Worker already had more than 100 B2B clients signed up for their upcoming ... Read More »

Lithuanian Mobile Worker raises €500,000 from Norwegian JBO Holding AS, Uni Micro Holding AS

OSLO: Lithuanian mobile workforce management solution Mobile Worker who had reached 15,000 B2C users in past year announced that it has raised €500,000 from two major Norwegian private holdings JBO Holding AS and Uni Micro Holding AS and developed a B2B version. Long before the announcement Mobile Worker already had more than 100 B2B clients signed up for their upcoming ... Read More »

Norwegian Aker Solutions to cut 300 out of 8,300 jobs

OSLO: Aker Solutions will reduce its workforce in its maintenance, modifications and operations (MMO) department by around 300 members of staff. The Norwegian oil services firm plans to reduce its headcount in response to lower demand after oil prices declined. There are 4,300 staff members within the affected unit. Per Harald Kongelf, head of Aker Solutions in Norway, said: “Activity ... Read More »

Norwegian Cruise Line Holdings’ revenue increases 21.6% to $3.1 billion

OSLO: Norwegian Cruise Line Holdings posted stronger revenue with increased growth of 21.6 percent to $3.1 billion, boosted by ticket sales. The Miami-based cruise operator generated net income of $338 million, or $1.62 per share, last year, compared with $102 million, or 49 cents a share, in the prior year. Frank Del Rio, president/CEO of Miami-based Norwegian Cruise Line Holdings, parent company ... Read More »

Norway’s Competition Authority seeks foreign investment in grocery sector

OSLO: Head of Competition, Christine B. Meyer, wants to open up for more competition in the grocery industry, and is prepared to waive the import protection. “Right now we are consciously closing the borders. I think it is so important with competition in the grocery market that we have to consider removing the import protection,” Meyer told VG. Grocery chain ... Read More »

Norway exports crude oil amounted to NOK 13.2b in 2105

OSLO: The value of crude oil exports from Norway amounted to NOK 13.2 billion in January 2015. This is less than half the value from the same month last year, when crude oil to the value of NOK 29.1 billion was exported. This is the lowest export value of crude oil since November 2001,Statistics Norway reports. The decrease is mainly ... Read More »

Norway’s Statoil moves ahead with plans to develop $29 billion oil field

OSLO: Norway’s oil and gas giant Statoil is moving ahead with plans to develop a giant US$29 billion oil field, entitled Johan Sverdrup, along with the Maersk Group in a bid to produce some of the world’s cheapest oil to increase profits after the recent oil price crash. According to gCaptain, Statoil said it would start the Johan Sverdrup oil ... Read More »

Belarus bans livestock imports from Norway due to mad cow disease

OSLO: Belarus has banned livestock imports from Norway due to a mad cow disease, the Veterinary and Food Control Department of the Agriculture and Food Ministry told BelTA. The World Organization for Animal Health reported on the case of bovine spongiform encephalopathy (mad cow disease – BelTA) in Norway,” the department said. In this regard Belarus has introduced temporary restrictions ... Read More »

Norway oil sector to cut 40,000 job cuts out of 250,000 nationwide

OSLO: Norwegian companies including Statoil ASA and global behemoths with Norwegian units, such as ConocoPhillips, are gearing up for the biggest investment cuts the Nordic nation has seen since 2000. As many as 40,000 jobs could disappear out of about 250,000 nationwide. When Joergen Langaunet started as a project planner at offshore engineer Aker Solutions ASA in 2012, he worked ... Read More »

Norway oil fund sells ownership in 49 companies due to sustainability concerns

OSLO: The oil fund sold its ownership in 49 different companies last year due to a high level of uncertainty concerning the companies’ sustainability. The government pension fund of Norway, better known as the National oil fund, presented its first report on responsible investments on Thursday. Gradually, we have expanded the extent of our divestment, both geographically and thematically. In ... Read More »

Norsk Hydro company wants to invest NOK4b in eco-friendly production of aluminum

OSLO: Hydro wants to invest approximately NOK 4 billion in a new technology that will enable a much more eco-friendly production of aluminum. Next to the oil and gas industry, this is the largest investment in Norwegian mainland industry in a decade. Hydro, a global supplier of aluminum, plans to build a new production facility at Karmøy, in the southwestern ... Read More »

Norwegian seafood exports touch record high of NOK7.6b

OSLO: Norwegian seafood exports totalled NOK 7.6 billion, an increase of NOK 393 million, or 5 per cent, compared with October 2013. This is a monthly all time high for Norwegian seafood. So far this year, the combined export value of Norwegian seafood stands at NOK 56 billion, an increase of NOK 7 billion, or 14 per cent, compared with ... Read More »

Falling Krone: Norwegian companies enjoying higher exports revenue

OSLO: Norwegian companies are celebrating higher export revenues as a result of a weaker Krone. Merchandise from the Norwegian producer Aabakke AS is now 25 percent cheaper abroad. “To us, the fall of the Norwegian Krone is positive because we do not buy so much foreign currency,” says director Inge Brigt Aarbakke in the oil production company Aarbakke AS. The ... Read More »