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Norway Bolsters Oil-Industry Defenses Against Foreign Takeovers

  • Proposes boosting power to reject non-European companies
  • Move seen potentially targeting Russian oil and gas producers
Updated on

Norway is seeking greater leeway to restrict foreign ownership of its offshore fields, a move seen to be potentially targeting a growing Russian interest in its resources.

In recent proposed changes to industry regulations, the Norwegian government beefed up its possibility to reject non-European entities on grounds of national security from acquiring offshore oil and gas licenses.