New Norwegian minister promises fiscal stability

By Silvia Favasuli 9 February 2017
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Terje Søviknes, Norway’s new minister of petroleum and energy. (Norwegian energy ministry) Terje Søviknes, Norway’s new minister of petroleum and energy. (Norwegian energy ministry)

Terje Søviknes was appointed as Norway’s minister of petroleum and energy in December 2016, replacing Tord Lien. A member of the neoliberal Progress Party, which governs Norway in coalition with the Conservative Party, Søviknes stated soon after his appointment he would be "on the offensive" in terms of awarding new acreage. The minister shared his optimistic view for the future of the Norwegian oil and gas industry with Interfax Natural Gas Daily.

Interfax Natural Gas Daily: According to Statistics Norway, investment covering oil and gas, manufacturing, mining and quarrying, and electricity in 2016 is expected to be 12.1% lower than in 2015. The institute also expects that figure will be 13.5% lower in 2017 than in 2016, and has said the decline is mainly the result of a drop in activity in the oil and gas sector. What are your plans to attract new investment?

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