NORWEGIAN OIL WILL DOWN
Oil companies in Norway, Western Europe's largest oil exporter, expect to slash spending for the third consecutive year in 2017 as they continue to downsize, delay projects and cut costs, an official survey showed Thursday.
Oil companies operating in Norway expect to spend 153.2 billion kroner ($18.47 billion) on exploration and production next year, the weakest figure since 2011 and nearly a third below the sector's all-time high of NOK220.7 billion two years ago. In 2016, they expect to spend NOK165.9 billion on exploration and production, down from NOK195.4 billion a year earlier and 1% below a similar estimate made…
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