Norway's government withheld negative oil figures on Barents Sea

Parliamentarians didn't have all the information available when green-lighting oil drillings in the Arctic during 2013, reports Norwegian state broadcaster NRK.

Photo: Alister Doyle/Reuters/Ritzau Scanpix

Prior to the majority of Stortinget (Norwegian parliament, -ed.) in 2013 giving its approval for oil exploration in the southeastern part of the Barents Sea, the government had withheld certain calculations, which showed that an oil hunt in the northern-lying ocean could lead to major losses for the country, reports domestic state broadcaster NRK.

The omitted numbers were crunched by the Norwegian Petroleum Directorate alongside the Ministry of Petroleum and indicated, for example, that if oil prices were to decline by 30 percent, net values in the region in question would likely be negative.

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