The richest Scandinavians are having a budget dispute involving Norway’s worst terrorist and a capsized warship.
The row started after Norwegian Prime Minister Erna Solberg proposed an “under the line” budget item to cover the estimated 19 billion kroner ($2.2 billion) it will cost to replace a navy frigate that collided with a tanker and ran aground last year and to resurrect the government offices destroyed in Anders Behring Breivik’s 2011 terror attack.
Read entire article HERE.
Norway has built a reputation as one of the calmest and most predictable corners of the global oil industry, but lately it’s been full of surprises.
During the worst downturn in a generation, from 2014 to 2016, companies would regularly exceed official forecasts as oil production rose in defiance of falling prices. More recently, with crude surging back to multiyear highs, they’ve run into trouble.
The Norwegian Petroleum Directorate now expects output to fall to a 31-year low in 2019, with production expected to be almost 60 million barrels short of its previous forecast for this year and in 2018. That’s 80,000 barrels a day less than expected.
Read whole article HERE.