Tag Archives: Regjeringen

Bloomberg: Norway Warns Its Companies to Not Hurt Brazil’s Rainforest

Business News, Government, ,

Norway’s government warned companies present in Brazil against any involvement in deforestation amid escalating international criticism of the Latin-American country’s management of the Amazon rainforest.

Amid raging wildfires in the rainforest, France’s president has threatened not to approve the Mercosur trade agreement as long as Brazil doesn’t live up to commitments to tackle climate change. Norway has also found itself at odds with Brazil, as the Nordic country and Germany froze millions of dollars for a preservation fund for the Amazon because they said the agreement had been broken.

Read entire article HERE.

Government: Norway joins European collaboration for cross-border access to genomic data

Business News, Health, , ,

Norway now joins an ambitious and extensive genomics collaboration with other European countries. The collaboration will benefit Norwegian research, Norwegian health care and Norwegian patients.

The goal of this European collaboration is to improve the research quality. The data can contribute to better prevention, earlier and easier diagnostics, less side effects and more precise prognosis through personalized medicine. 

– There is a huge potential for knowledge and medical treatment in genomics. Health care personnel in Norway need access to international databases with genetic information in order to offer the best possible diagnostics and treatments. By entering into this collaboration, Norwegian experts will be able to contribute to the development of these databases, says Minister of Health Bent Høie.  

Read entire article HERE.

MAREX: Norway Updates Ocean Strategy

Business News, Government, Shipping & Offshore, ,

The Norwegian Government has released an updated Ocean Strategy, noting that the nation’s blue economy has been important for centuries.

The Norwegian ocean areas contain rich oil and gas resources, which have played a key role in the development of the nation’s welfare state. At the same time, Norway’s ocean is the basis for one of the world’s largest and most sustainable seafood industries, as well as a large maritime industry. 

The Organisation for Economic Cooperation and Development (OECD) estimates that the ocean economy’s contribution to global value creation will be doubled by 2030, compared to 2010. The opportunities for future growth and new jobs are considerable for industries operating in global markets; both in established industries such as oil and gas, fisheries, aquaculture and shipping, as well as in industries such as coastal-based tourism, space activity, and emerging industries such as offshore wind, seabed minerals, and new biological resources for food and pharmaceuticals.

Read entire article HERE.

Click HERE to download the government’s new strategy.

Government: Announcement of Awards in Predefined Areas (APA) 2019

Energy, Government, , , , ,

The Norwegian Ministry of Petroleum and Energy announces this year’s licensing round in mature areas on the Norwegian continental shelf – Awards in Predefined Areas (APA) 2019.

– I am delighted to announce this year’s APA round. We are continuing our practice of offering regular concessions on the NCS to provide the industry access to new acreage. Awarding prospective acreage is a central element in the Government’s policy. I believe the oil companies are well motivated to continuing exploring the NCS, says Minister Kjell-Børge Freiberg.

In the APA 2019, the predefined area has been expanded by a total of 90 blocks – five in the North Sea, 37 in the Norwegian Sea and 48 in the Barents Sea.

– The expansion of the APA-area is important to ensure effective exploration of larger parts of the NCS, including the Barents Sea. The expansion will give the companies access to new opportunities that can enable value creation, employment and technology development.

Read entire press release HERE.

Bloomberg: Here’s What Lawmakers Want to Do With Norway’s $1 Trillion Fund

Business News, Energy, Financial / Investment, Government, ,

Key lawmakers gave a nod to a range of changes for Norway’s $1 trillion sovereign wealth fund — from divesting some of its oil stocks, to an overhaul of its fixed-income holdings and tighter restrictions on coal investments.

But even after one of the most eventful years in the fund’s history, more change could be coming, documents from parliament’s Finance Committee revealed.

As the committee as expected late on Tuesday approved the government’s plans ahead of a vote in parliament, opposition politicians made a series of proposals and comments that show what the world’s biggest wealth fund may have in store in the years ahead, maybe even as soon as after the 2021 election.

Read entire article HERE.

Bloomberg: Oil-Rich Norway to Stress Test Its Finances Amid Climate Risk

Business News, Government

Norway, western Europe’s biggest oil and gas producer, plans to stress-test its public finances with different price scenarios to better understand risks related to climate change.

The government’s decision follows recommendations from an expert report last year on climate risk, and comes amid an intensifying public debate in the Nordic nation about the future of the petroleum industry that has made it one of the world’s richest countries.

Read entire article HERE.

MAREX: Nordic Countries Call for Ocean Plastic Treaty

Business News, Government, , , , , ,

Nordic governments have become the first in the world to formally call for a global treaty to tackle ocean plastic.

The call was made at a gathering of the environment ministers of Denmark, Finland, Iceland, Norway and Sweden at the Nordic Council in Reykjavik, Iceland. 

In the declaration, the ministers for the environment are pushing for a global agreement on plastic. The declaration, which has been sent to E.U. governing bodies, UNEP, the G7 and the G20, also asks the Nordic Council of Ministers to prepare a study to consider which specific elements should be included in a global agreement to combat microplastics and plastic waste in the marine environment.

Read entire article HERE.

Regjeringen: Tar sikte på å innføre dobbelt statsborgerskap fra januar 2020

Business News, Government,

I fjor vedtok Stortinget regjeringens forslag om å åpne for dobbelt statsborgerskap. Kunnskapsdepartementet tar sikte på at endringene i statsborgerloven trer i kraft fra 1. januar 2020. Endringen gjør at nordmenn kan beholde det norske statsborgerskapet sitt, selv om de blir statsborgere i et annet land.

Det samme vil gjelde utenlandske statsborgere som fyller vilkårene for å få et norsk statsborgerskap. Norske borgere som har mistet det norske statsborgerskapet sitt da de fikk statsborgerskap i et annet land, kan på en enkel måte få tilbake det norske statsborgerskapet sitt.

Norge måtte si opp deler av Europarådskonvensjonen av 6. mai 1963 for å kunne endre reglene. Oppsigelsen har virkning ett år fra den ble meddelt Europarådet. Norges oppsigelse ble meddelt 18. desember 2018 og vil få virkning fra 19. desember 2019.

Bloomberg: Oil Divestment List for Norway’s $1 Trillion Fund Isn’t Final

Business News, Energy, Government, , , ,

Figuring out exactly which oil companies Norway is targeting for divestment wasn’t easy last week when the government made its historic announcement. It turns out no one knows precisely yet.

After revealing it would allow its $1 trillion wealth fund to sell out of $7.5 billion in upstream oil and gas companies, the government disseminated two separate lists of potential targets: one with 134 companies and one with 150 companies.

The lists also included many refiners and petrochemical groups and would be at odds with the decision to only exclude “upstream” companies. The government now concedes that the actual work to single out divestments remains to be done

Read entire article HERE.