Tag Archives: Ministry of Petroleum and Energy

Bloomberg: Norway May Join Oil Output Cuts for First Time Since 2002

Norway, the biggest oil producer in western Europe, said it would consider cutting its output if there was a broad international agreement to curb supply.

The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support prices since 2002. OPEC and other producing nations are due to meet next week to discuss a potential agreement, with Saudi Arabia and Russia indicating other producers needed to join for any deal to be reached.

“We have a dialog with key stakeholders, including other producing countries,” Petroleum and Energy Minister Tina Bru said in an email. “If a broad group of producers agree to cut production significantly, Norway will consider a unilateral cut if it supports our resource management and our economy.”

Read more HERE.

Reuters: Norway’s PM to appoint lawmaker Bru as oil minister

OSLO (Reuters) – Norwegian Prime Minister Erna Solberg will appoint Conservative lawmaker Tina Bru as oil and energy minister, business daily Dagens Naeringsliv and public broadcaster NRK reported on Thursday, citing unnamed sources.

The office of the prime minister declined to comment. Bru was not available for immediate comment.

If confirmed, 33-year-old Bru will oversee western Europe’s largest petroleum industry, which is expected to see sharp growth in crude oil output in the next several years.

Read more HERE.