Norway Loses Reputation as Stable Investment as Firms Recoil

Norway, western Europe’s largest oil producer, is angering a growing number of oil and gas companies after dictating terms for offshore projects worth billions of dollars.

In the latest blow to the nation’s reputation, the opposition bloc last week defied the minority government and decided to force Statoil ASA and other producers to prepare to power North Sea developments from land, raising costs and potentially delaying the projects. That comes after last year’s surprise tax increase on oil output.