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Norway Engineers Look to Statoil Dividend to Save Oil Jobs

Norway should use the dividend from its 67 percent stake in Statoil ASA, the nation’s biggest crude producer, to fund a program to save oil jobs, according to the country’s largest engineers union.

Norway, western Europe’s biggest crude producer, faces a slowdown that’s already pushed unemployment to the highest level since at least 2006. Unemployment among engineers has tripled in the last year, according to the Norwegian Society of Engineers and Technologists. As many as 40,000 oil and gas jobs could disappear out of about 250,000 nationwide.