Tag Archives: Rasmus Hansson

Crude arguments: Petroleum Directorate does test drilling in Svalbard, says it’s not related to oil and gas activity

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The oil industry is suffering a worse crisis than coal and it’s recent ventures in the Arctic haven’t exactly been entirely successful or popular. But the Norwegian Petroleum Directorate for the second straight year has conducted controversial exploration activities in Svalbard exposing – if nothing else – an erupting rift between Parliament members.

What now? Store Norske seeks short-term help, but town’s long-term future perilous as layoffs begin quickly

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To the extent there’s hope, it’s mostly that somebody somewhere will think of something.

The first round of layoffs that will ultimately leave Store Norske with about 100 of its current 270 employees is likely to occur next week, said Arild Olsen, the union steward for the workers. He estimated 40 to 50 employees may be affected, most of whom will likely get a three-month notice period.

Mine not yours: Parliament OKs Store Norske bailout; private shareholders protest forced sale of stocks

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Store Norske is breathing a sigh of relief after getting its bailout by a nearly unanimous vote in Parliament. But the decision intended to keep the company alive at least through next year is also upsetting many people, including private shareholders being forced to give up their holdings at what some say is a shocking low price.