Big Oil's dream of US$65b of crude fades away as Norway opts to defend natural wonder
Oslo
NORWAY'S oil industry has been salivating for years over the Arctic Lofoten islands, which could hold billions of barrels of crude. But it will likely have to keep dreaming.
The general election next month is unlikely to lift a deadlock that's keeping a ban on drilling off the environment-sensitive archipelago as more and more Norwegians are turning their backs on the industry that helped make the country one of the world's richest.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices