EnergyWatch

Big Oil's dream of USD 65 billion hidden off Norway is fading away

Norway's two biggest parties have long favored steps that could open up the environmentally sensitive area Lofoten for oil exploration. But many Norwegians are turning their backs on the industry that helped make the country one of the world's richest.

Norway's oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. It will likely have to keep dreaming.

The general election next month is unlikely to lift a deadlock that's keeping a ban on drilling off the environmentally sensitive archipelago as more and more Norwegians are turning their backs on the industry that helped make the country one of the world's richest. 

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Welcon's record revenue shaves paper-thin profit margin

State-subsidized steel from China is making the Danish wind turbine tower supplier's profit bottom out. If the EU doesn't decide to impose a tariff on Chinese steel this year, Welcon predicts that several suppliers will collapse. "But it won't be us," the CEO says.

Further reading

Related articles

Trial banner

Latest News

See all jobs