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Fewer companies hunting for Norwegian oil

According to a Norwegian media, the number of companies with exploration licenses granted through the TFO program has plunged by almost 40 percent since 2013. However the Norwegian Ministry of Petroleum and Energy is not concerned and notes that the number of extraction licenses is stable.

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Oil companies support Maersk's North Sea tax demands

Several oil companies want more advantageous taxation in Denmark. Whether politicians decide to renegotiate it could prove crucial for the viability of the country's oil and gas industry, according to subcontractor Danoil.

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Oil output is diving – but what about the US?

The countries behind the agreement to reduce the oil output have so far been able to cut production by 1.5 million barrels per day. This happens while the number of active oil rigs in the US is on the rise, notes Global Risk Management.

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Novozymes went slightly up except for one division

The biofuel division was the only part of Novozymes to suffer a setback in 2016, according to the annual report on a "challenging year", in which the enzyme producer kicks off a round of firings and a large-scale share buy-back program.

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New Logstor CEO wants expansion across the board

INTERVIEW: Although the main focus at Danish Logstor is booking a bottom line profit after many years of gloomy financial reports, the new CEO highlights that he is also open to acquisitions as new business areas.

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New oil challenger wants to be the biggest on the Norwegian Shelf

Newly established oil and gas giant Aker BP wants to be the biggest on the Norwegian shelf when it comes to exploring for new oil. Meanwhile, shareholders have been promised annual dividends of USD 250 million, which will be increased when Johan Sverdrup begins production.

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Costs of Norwegian oil production halved

Since 2014, costs in the Norwegian oil sector have been more than halved according to a new report from the Norwegian Petroleum Directorate. While 2017 and 2018 will see a lower investment level than in 2016, the picture will change in 2019, say estimates. Read the report here.

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Statoil hopes to repeat Sverdrup discovery

Large parts of the British North Sea shelf still have yet to be explored with the latest technology, says Statoil's executive VP for exploration. He believes that there are still major oil discoveries to be made.

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Premier Oil sets record for North Sea production

Premier Oil doubled its North Sea production in 2016 and expects to make more increases this year. The refinancing of the company's record-high debt is also just around the corner, promises the CEO once again.

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Semco Maritime receives fresh capital after two tough years

Semco Maritime has received a capital injection of DKK 150 million from owner C.W. Obel. The company has been hard hit by low oil prices in recent years, and the capital increase is happening, according to Semco CFO Jørgen D. Gade, in order for new strategy to be realized.

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Statoil hopes to hit the jackpot in 2017

Statoil will drill six high impact wells next year, which might contain large volumes of oil. The company has high expectations for the Korpfjell field in the Barents Sea. The field may hold up to three times as much oil as Johan Castberg.