OSLO, Dec 14 (Reuters) – The Norwegian government has postponed a decision on whether to mandate the construction of an oil processing terminal near the Arctic tip of northern Europe...

The Norwegian Parliament has approved Equinor’s development and operation plan for the giant Johan Castberg field located in the Barents Sea within the Arctic Circle. The plan now heads to Norway’s...

By Alister Doyle OSLO, May 15 (Reuters) – An architect of the Paris climate agreement urged governments on Tuesday to halt oil exploration in the Arctic, saying drilling was not...

Oslo, Norway-based Kvaerner has been awarded a large contract from Statoil for the construction and installation of the topside structure for the floating production, storage and offloading vessel (FPSO) to...

  By Mikael Holter (Bloomberg) — Statoil ASA gave the final go-ahead to a flagship Arctic oil project after slashing costs by half. While expected, the move by Norway’s biggest oil company...

By Mikael Holter (Bloomberg) — With the oil industry barely recovering from its most brutal slump in decades, you might expect the Arctic Ocean to be the last place explorers...

By Mikael Holter (Bloomberg) — Norway’s Arctic ambitions just got a $7 billion boost from Statoil ASA. Norway’s largest oil company was able to halve its expected development costs to...

Statoil says it is delaying two major projects on the Norwegian continental shelf amid low oil prices and the need for more robust planning in order to cut costs. Decisions...

Statoil ASA could be forced to delay its Johan Castberg project in Norway’s Arctic waters for a third time after oil prices dropped by more than half since June.

Global oil and gas exploration projects worth more than $150 billion are likely to be put on hold next year as plunging oil prices render them uneconomic, data shows, potentially curbing supplies by the end of the decade.

OSLO, June 30 (Reuters) – Statoil has postponed a decision on the development concept for its flagship Johan Castberg Arctic oil project until the summer of 2015 after a disappointing...

Statoil is more likely to develop the $15.5 billion Johan Castberg field in the Arctic using a floating production storage and offloading (FPSO) installation than via an oil terminal on land, a senior company executive said on Thursday.

Lundin Petroleum AB, the Swedish explorer focused on Norway, said there won’t be any new oil output in the ice-filled waters of the Arctic for at least 15 years because of technical and logistical challenges.

A group comprised of 17 oil and gas companies has established a project for joint seismic acquisition in the southeastern Barents Sea.