Tuesday , February 21 2017
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Norwegian Nel Hydrogen signs contract with California hydrogen fuelling market

Nel logo-h2logic_x2

OSLO: Nel Hydrogen Solutions, a division of dedicated hydrogen (H2) solutions provider Nel ASA, has signed a framework contract representing the company’s largest single order for fuelling stations to date. The deal also “represents the best possible start of entry into the Californian market” for the Norway-based business, according to its CEO Jon André Løkke. Under the framework contract, the ... Read More »

Norway salmon price seen flat to down 1 crown to NOK 61-63 crowns next week


OSLO: The average price of Norwegian farmed salmon is seen flat to down 1 crown to 61-63 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday. “So far it’s quiet, and prices diverge. In sum we expect prices to be stable to slightly down, probably around 62-63 crowns in Oslo,” said a producer who ... Read More »

Norway, Cuba eyes for strengthening bilateral relations

Norway, Cuba eyes for strengthening bilateral relations

HAVANA: Cuban Foreign Minister Bruno Rodriguez and State Secretary Laila Bokhari of the Norwegian Ministry of Foreign Affairs expressed the wish of both nations to continue strengthening their relations. During the meeting, held in a cordial setting, both officials debated on the positive state of two-way ties, the Cuban Foreign Ministry reported. Later Laila Bokhari, who is making an official ... Read More »

Kitron’s revenue amounted to NOK 570m in Q4


OSLO: Kitron ASA today reported solid growth, improved profit and increased dividend. Kitron’s revenue in the fourth quarter amounted to NOK 570 million, compared to 525 million in the fourth quarter last year. Operating profit (EBIT) was NOK 34.1 million, compared 33.6 million last year. Net profit amounted to NOK 25.4 million, an increase from 22.6 million. This corresponds to ... Read More »

Norwegian seafood import jumps 73% in 2016


OSLO: The import of Norwegian seafood in South Korea surged last year due largely to increased demand for mackerel, a report said Wednesday. The inbound shipments of seafood from Norway reached 292.8 billion won (US$256.6 million) in 2016, up 73 percent from the previous year, according to the Norwegian Seafood Council (NSC), which cited its latest government statistics. While the ... Read More »

Norway’s Scapa Baltic’s net profit decrease 13% in 2016

net profit decrease

OSLO: Norway’s Scapa Baltic’s net profit decreased by 13 per cent to €72,300, the Kaunas-based company said in its report for the financial year ended Aug. 31, 2016 filed with the Center of Registers. Sales to EU countries last year accounted for 93% of Scapa Baltic’s total sales, of which 72.5%t went to Sweden. The largest increase was in sales ... Read More »

Norwegian DNO plans to increase its production in Oman

Norwegian DNO plans to increase its production in Oman

OSLO: Norwegian oil company DNO plans to bring two oil production wells back on stream in its northern Oman Block 8 license during 2017, nearly doubling daily production at its West Bukha and Bukha oilfields, it announced. DNO’s majority shareholder is RAK Petroleum, of Ras al-Khaimah. According to details, in its interim report for 2016, DNO announced plans to step ... Read More »

Norwegian taxpayers regularize their tax affairs


OSLO: There was a 34 percent increase in the number of taxpayers using Norway’s voluntary disclosure program in 2016. The Norwegian tax administration said 515 people had provided information on previously undisclosed assets and income in 2016. In 2015, 384 individuals sought voluntary correction of their tax affairs. Around 1,900 individuals have made voluntary disclosures since 2007, and nearly 1,800 ... Read More »

Norwegian oil industry service vessel operators to merge


OSLO: Hit by the oil industry recession, Norwegian offshore service vessel (OSV) operators Farstad Shipping, Deep Sea Supply and Solstad Offshore announced plans to merge on Monday to counter the downturn. Under the deal Farstad is to complete a financial restructuring via a debt-for-equity swap and new share issue, and will then be merged with Deep Sea Supply and Solstad ... Read More »

High Norway salmon prices see January sales to EU drop


OSLO: Sales of Norwegian salmon to Europe dropped in January, as higher prices start to hit consumers, according to a release from the Norwegian Seafood Council (NSC). According to NSC, Norway exported 70,100 metric tons of salmon worth NOK 5.3 billion ($64.24 million) in January, down NOK 1.1bn, or 25%, year-on-year. Export volumes to the EU dropped by 5,400t, whilst ... Read More »

Norway seafood exports up 13% in Jan


OSLO: The value of Norwegian seafood exports grew by 13 percent in January to 7.6 billion Norwegian crowns ($921.02 million) from the same month of 2016. The volume decreased by 11 percent to 170,000 tonnes of seafood. Norway exported 70,100 tonnes of salmon worth 5.3 billion crowns in January. The value of salmon exports increased by 1.1 billion crowns or ... Read More »

Norwegian customs seize boa constrictor arriving from Denmark


OSLO: Norwegian customs officers on Sunday night found a snake in a car on a ferry that had just arrived from Denmark. The boa constrictor was discovered in a clothing bag during a routine inspection at the port of Kristiansand. The three young men in the car all hailed from Rogaland, a province in southwestern Norway, according to the Norwegian ... Read More »

Norway amended import VAT reporting rules


OSLO: Norway’s tax administration has published guidance on reforms to the import value-added tax (VAT) reporting process for fiscal years beginning in 2017. With the tax administration newly responsible for the collection of VAT on imports, a new VAT return (mva-meldingen) replaced the previous form (omsetningsoppgave for merverdiavgift) for supplies after January 1, 2017. As a result of the changes, ... Read More »

Norwegian shellfish exports increase in 2016


OSLO: Norway exported 44,000 tonnes of shellfish worth NOK 1.8 billion in 2016. This is a volume increase of 10 per cent and an increase by value of 21 per cent from 2015. Norway exported prawns worth NOK 740 million in 2016. This is a decrease of 4 per cent from 2015. Norway exported king crab worth NOK 529 million ... Read More »

Norway to raise water, sewer rates


OSLO: Norway residents will see their water and sewer rates rise beginning with the February utility bill after the city council Monday authorized the final rate increases needed to fund this year’s water/sewer improvement project. Council members noted the sewer rate increase is slightly lower than anticipated, as the city was able to secure low interest rates on project loans. ... Read More »

Norway’s wealth fund to tackle complexity of corporate pay


  OSLO: Companies whose shareholders include Norway’s $885 billion sovereign wealth fund can expect closer scrutiny of executive pay when the next round of annual investor meetings begins. The Norwegian fund is working on an updated policy to address executive pay at the 9,000 companies it is invested in and expects this to be in place “in a month or ... Read More »

Poland to take final decision on Norway gas link in 2018


OSLO: Poland will take final investment decision on the planned construction of a gas connection to the Norwegian shelf next year, a Polish government official said. The ruling conservative Law and Justice party (PiS) announced its plan to revive the project to build a gas link to Norway at the end of 2015, after it won the parliamentary election in ... Read More »

Pakistan, Norway agree to enhance trade ties


OSLO: Pakistan and Norway have agreed to enhance bilateral relations in various fields, especially economy and trade. This came during a meeting between Pakistani Prime Minister Nawaz Sharif today with his Norwegian counterpart Erna Solberg on the sidelines of the annual meeting of the World Economic Forum in Davos. Read More »

Norway trade surplus grows in Dec


OSLO: Norway’s foreign trade surplus increased at the end of the year, as exports rose and imports fell, figures from Statistics Norway showed Monday. The trade surplus climbed to NOK 23.3 billion in December from NOK 15.9 billion in the corresponding month last year. In November, the surplus was NOK 15.4 billion. Moreover, the latest surplus was the highest since ... Read More »

Noway gas exports increase in 2016


OSLO: A new record for gas exports from Norway was set in 2016, when 108.56 billion standard cubic metres (scm) (3.8 tcf) were delivered within Gassco’s operatorship to Germany, Belgium, France and the U.K. In 2015, 108.44 billion scm of gas were exported from the Norwegian continental shelf to European buyers. Deliveries of natural gas liquids and condensate from the ... Read More »