Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Energy-rich Norway leaves key policy rate unchanged
by Daniel J. Graeber
Washington (UPI) Sep 21, 2017


For Norway, one of the main suppliers of oil and natural gas in the European economy, there's a need for expansionary monetary policies, its central bank said.

Norge Bank, the country's central bank, said it was leaving its key policy rate unchanged at 0.5 percent. Inflation, meanwhile, should stay below 2.5 percent during the next few years.

"There is a continued need for an expansionary monetary policy," the bank said Thursday.

The bank's decision was the first since Prime Minister Erna Solberg secured another term in office following elections earlier this month. Her Conservative Party lost three seats in the 169-seat Parliament and is expected to sit down to form a new coalition with the majority Labor Party, the Progress Party, which holds 27 seats, and Christian Democrats, which hold 8 seats. Solberg's party holds 45 seats.

The Norwegian Oil and Gas Association said four of the largest parties -- Labor, Conservative, Progress and Center -- are pro-industry and will ensure stability for the energy sector. Spokesman Tommy Hansen said Solberg wasn't expected to make any changes that would impact the oil and gas industry, though she's been a vocal supporter of the need to advance a low-carbon economy.

Apart from Russia, Norway is one of the leading energy suppliers to the European economy, designating nearly all of its offshore production for exports. The National Petroleum Directorate reported preliminary figures for August were lower than expected, though declines were likely the result of seasonal factors. Total discovered and potential resources are up more than 40 percent since 1990. With 50 years behind it, the NPD estimated Norway is not yet at the halfway point as a producer.

The central bank said it was optimistic about the overall energy sector because oil price futures were edging higher in the third quarter, while non-oil business investments were expected to improve.

"Higher imports among trading partners will boost exports from Norway," the report read.

OIL AND GAS
Russian oil company says it sent the U.S. its largest ever oil shipment
Washington (UPI) Sep 20, 2017
In its largest maritime shipment to date, a Russian oil company said it dispatched nearly 2 million barrels of oil from an Iraqi oil field to the United States. Russian oil company Gazprom Neft, which operates the Badra field in southern Iraq, said the 1.78 million barrels dispatched to the United States on the New Solution tanker represents the largest maritime shipment ever to a forei ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
New biomaterial could replace plastic laminates, greatly reduce pollution

A new way to directly convert methane to methanol using gold-palladium nanoparticles

China aims to extend ethanol fuel usage countrywide by 2020

How well electron transport works in furfural biogas

OIL AND GAS
NREL investigates coatings needed for concentrating solar power

Chinese solar panel manufacturer claims a quarter of India's market

Scientists make atoms-thick Post-It notes for solar cells and circuits

French company Total steps into solar energy market

OIL AND GAS
French energy company to build wind power sector in India

Finding better wind energy potential with the new European Wind Atlas

Last of the 67 turbines for a British wind farm installed

Kimberly-Clark next U.S. company to draw more on renewables

OIL AND GAS
Discovery could reduce nuclear waste by chemically reengineering molecules

Against rising headwinds, UK pushes ahead with nuclear projects

Russia's use and stockpiles of highly enriched uranium pose significant nuclear risks

EU parliament opposes bid to reduce testing of Fukushima food imports

OIL AND GAS
US looks to work with Paris climate accord 'partners': Tillerson

France hopeful of persuading Trump to stay in climate accord

US says it will withdraw from Paris accord without more favorable terms

Is the Earth warming? The ocean gives you the answer

OIL AND GAS
China rises at Frankfurt car show

In the future, roads could generate power from passing traffic

'Car nation' Germany distrustful of driverless vehicles

GM to recall 2.5 mn vehicles in China over Takata airbags

OIL AND GAS
Iraq anti-graft task force fishes for 'sharks'

Iraqi forces launch assault for last IS bastions in Anbar

Iraq moves to attack last IS bastion on Syria border

Iraq forces seize IS outpost ahead of Euphrates push; Kirkuk car bomb kills 3

OIL AND GAS
NK crisis boosts Japan's PM; China, Russia urge end to vicious cycle

UN condemns 'highly provocative' N. Korea missile launch

Moon, Trump vow stronger pressure against N. Korea

US has many military options in Korea as Trump, Xi agree on max pressure




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement