EnergyWatch

Norwegian oil execs are as positive as before last boom

It has only been four years since the oil price collapsed and caused major challenges for the entire oil industry. However, optimism has returned to the industry and Norwegian oil majors have begun hiring again.

Photo: Royal Dutch Shell PR

Optimism has returned among Norwegian executives in the oil industry four years after the oil price's dramatic drop, which put pressure on the entire value chain and many saw themselves defeated. Today, things are looking quite different, shows a new survey from classification company DNV GL, according to Norwegian business daily Dagens Næringsliv.

"We are seeing great optimism across the board. Companies need to invest more, they need to make more investment decisions and more believe that they can reach their profitability target," says Liv Hovem, CEO of DNV LG's oil and gas business, to the Norwegian media.

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