“New state-owned Arctic oil company needed”


A researcher at the University of Oslo believes Norway should establish a new state-owned oil company for Arctic projects. The new company could help secure better control with exploration in the vulnerable Arctic waters, he argues.


Petroluem researcher Helge Ryggvik says to NRK that the Norwegian state has lost control over the Norwegian oil industry following the privatization of Statoil in 2001. He adds that last year’s merger with Hydro has further decreased government influence in the company, the by far biggest on the Norwegian shelf. -In today’s situation we would have needed a company which could take political responsibility also what security and environment is concerned. Originally, Statoil was supposed to do this, however, today we do not have this tool, and I believe this is a big problem, Mr. Ryggvik says. The researcher is backed by the environmentalists in the Bellona Foundation. –StatoilHydro is not as serious on security and environment as they were before the merger, Bellona leader Frederic Hauge says.