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Norway’s Statoil interested in Algerian offshore, renewables

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OSLO/ALGIERS: Norway’s Statoil is interested in investments in Algeria’s offshore potential and solar and wind energy projects, Norway’s foreign affairs minister said after meeting with his Algerian counterpart, a ministry statement said. Statoil is already operating in Algeria’s gas sector, but it is the first time the company has expressed public interest in renewable energy projects and offshore projects in ... Read More »

Norway optimistic of establishing FTA with Malaysia


KUALA LUMPUR: Norway is optimistic of establishing a free-trade agreement (FTA) with Malaysia through the European Free-Trade Association (EFTA) by 2018. Ambassador of Norway to Malaysia Hans Ola Urstad (pix) said Norway had just adopted an FTA with the Philippines and was negotiating a similar one with Malaysia through the EFTA, consisting of Iceland, Norway, Switzerland and Liechtenstein. “The eighth ... Read More »

Norway, China inks trade agreement


OSLO: Norway’s minister of fisheries and China’s minister of veterinary issues have signed an agreement on the import and export of foodstuffs. “China is Norway’s most important trading partner in Asia and there is a great potential for exporting Norwegian seafood to China. It is therefore very positive that [Shuping] Zhi visits Norway and that the contact between the food ... Read More »

Norway, China sign agreement on food imports, exports

Germany-Switzerland sign arbitration agreement for tax disputes

OSLO: China and Norway have signed an agreement on the import and export of food products, Norway’s Ministry of Trade, Industry and Fisheries said. The two countries recently resumed full diplomatic relations after a six-year political conflict that was triggered by the 2010 award of the Nobel Peace Prize to Chinese dissident Liu Xiaobo. Norway’s fish farming industry is hoping ... Read More »

Air carriers target Norwegian salmon


OSLO: The growing demand around the world for Norwegian salmon has recently brought two major international air carriers to Oslo. Emirates SkyCargo, the world’s largest international cargo airline, is expanding its presence in Scandinavia with the launch of a new weekly freighter service from Oslo to Dubai. And AirBridgeCargo Airlines (ABC) has launched a twice weekly Boeing 747 freighter operation ... Read More »

Norwegian white fish exports continue steady rise


OSLO: Norwegian fishermen are continuing to enjoy an export boom as sales of the main white fish species show a steady increase. Figures from the Norwegian Seafood Council reveal that the country exported 129,000 tonnes of cod, haddock and saithe during the first quarter of this year with a total value of NOK 4.2 billion. As with salmon, demand from ... Read More »

Norwegian company Aker BP posts 15% production gains


OSLO: Aker BP, a merger of Norwegian energy companies and a national subsidiary of BP, said Wednesday its first quarter production was up nearly 15 percent. The company reported first quarter production of 145.3 million barrels of oil equivalent, an increase of 14.8 percent from the previous quarter. Most of the company’s output came from the Alvheim license area, which ... Read More »

Norway, China resume trade talks after Norwegian PM visit


OSLO: Norwegian Prime Minister Erna Solberg led a delegation on a three-day visit to visit China on Friday (7 April), in an official gesture to normalise diplomatic relations with China after six years. She met Chinese Premier Li Keqiang and discussed the signing of a series of “cooperation documents” that include conducting negotiations for free trade agreements. The visiting delegation ... Read More »

Norway, EU agree on new agricultural trade deal


OSLO: Norway and the European Union (EU) have agreed to increase the tax-free import quota for cheese to Norway by 1,200 tons while import quotas for meat shall in total increase by 2,550 tons, online newspaper reported. The two parties agreed on a new deal by Article 19 of the European Economic Area (EEA) agreement, which relates to trade in ... Read More »

Norway seafood exports up 17 percent in March


OSLO: Norway’s Seafood Council said on Wednesday Norwegian seafood exports grew by 17 percent in March to 8.9 billion crowns ($1.04 billion) year-on-year. Volumes decreased by 14 percent to 216,000 tonnes over the same period Norway exported 95,143 tonnes of salmon, the most popular type of fish sold, worth 6.3 billion crowns in March The value of salmon exports increased ... Read More »

Norway, China free trade agreement seems to resume


OSLO: The thick ice between China and Norway seems to slowly be melting. After a six-year long dispute between the two countries, Erna Solberg, Prime Minister of Norway, announce that she will be travelling to China this week and meet with President Xi Jinping to resume work on a free trade agreement between the countries. On Friday 7 April 2017, ... Read More »

Norway to invest millions in cleaner seas


NORWAY: Norway, one of the world’s most important fishing countries, has announced it plans to make sustainable use of the seas and oceans a global priority. It is investing more than 100 million kroners to help combat the dumping of litter and plastic into the sea, which is causing grave concerns in fishing communities. This is the first time that ... Read More »

China: next market for Norwegian salmon exports


OSLO: China is the next market to conquer for Norwegian salmon and seafood investors. “China is too big to ignore,” Hogne I. Tyssoy, portfolio manager of the Holberg Triton fund, said in an interview in Oslo. “Now when it’s opening again, Norwegian seafood has an exciting future in China.” Trade relations between China and Norway were normalized in December, ending ... Read More »

Norwegian Statoil finds new oil & gas reserves


OSLO: Norwegian energy company Statoil made oil and gas discovery in the North Sea in an area not previously known to hold reserves, the government said. Using its Gullfaks C platform, the Norwegian Petroleum Directorate confirmed a discovery of oil and gas in the Gimle field, about 4 miles away from the Gullfaks field that’s already in production. The discovery ... Read More »

Norway salmon price seen easing to 61-62 crowns next week


OSLO: The average price of Norwegian farmed salmon is expected to fall by 1-2 crowns to 61-62 crowns per kilo for deliveries in Oslo next week, sources in the fish farming industry told on Friday. This week prices have ranged from 62 to 63 crowns, in line with expectations. “Prices are down 1 crown to 61-62 crowns next week,” said ... Read More »

Vietnamese chairwoman, Norwegian diplomat laud bilateral ties

Vietnam Norway

HANOI: Vietnam national assembly’s Chairwoman Nguyễn Thị Kim Ngân and Norwegian Ambassador to Vietnam Siren Gjerme Eriksen lauded the growing ties between the two countries during a meeting in Hanoi. The NA Chairwoman suggested increasing experience sharing and technology transfer in fields of Norway’s strength and Vietnam’s demand. Vietnam hopes Norway will open its market for Vietnam’s traditional exports such ... Read More »

Norway shares lower at closing of trade, Oslo OBX lost 0.03%


OSLO: Norway equities were lower at the close on Tuesday, as losses in the Technology Hardware & Equipment, Diversified Financials and Materials sectors propelled shares lower. At the close in Oslo, the Oslo OBX lost 0.03%. The biggest gainers of the session on the Oslo OBX were REC Silicon ASA (OL:REC), which rose 2.21% or 0.03 points to trade at ... Read More »

Norway’s Hoegh LNG Holdings targeting Australia as next destination for LNG


OSLO: Norway’s Hoegh LNG Holdings is targeting Australia as the next destination for its liquefied natural gas (LNG) import ships, its chief executive said on Monday, aiming to fill a looming supply gap that has sent prices soaring. Hoegh has just started talking to Australia’s energy retailers and also sees big gas users as potential customers, with floating regasification and ... Read More »

Ownership of Norway’s Nyhamna gas processing plant expected to expand

Nyhamna Gas Plant Norway

OSLO: The ownership of Norway’s Nyhamna gas processing plant, a major supplier of energy to Britain, could expand to 13 companies in 2017 from the current five when Gassco succeeds Royal Dutch Shell Plc (NYSE: RDS.A) as the facility’s operator, Shell told press. Currently processing gas from the offshore Ormen Lange Field, Nyhamna will also receive gas from Statoil ASA’s ... Read More »

Norway trade surplus increase significantly in February

Trade Surplus Grows

OSLO: Norway’s foreign trade surplus increased notably in February from a year ago, as exports surge and imports fell, figures from Statistics Norway showed on Thursday. The trade surplus rose to NOK 23.5 billion in February from NOK 10.8 billion in the corresponding month last year. In January, the surplus was NOK 26.6 billion. Exports jumped 18.0 percent year-over-year in ... Read More »