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2018-01-03 15:35:00

NORWAY'S OIL PROBLEMS

NORWAY'S OIL PROBLEMS

BLOOMBERG - Norway is realizing it will have to do without the deep pockets of the biggest oil companies as it seeks to extend an era that has made it one of the world's richest countries.

The most recent blow came when only 11 companies applied for new blocks in the Arctic Barents Sea, touted as the country's most promising area for exploration. Chevron Corp. and ConocoPhillips were absent after bidding the last time, while Exxon Mobil Corp. and Total SA remained out of the race. Of the five super-majors, only Royal Dutch Shell Plc applied.

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Tags: NORWAY, OIL, GAS, PRODUCTION
Chronicle:
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