NORWEGIAN trade body OLF predicts a “positive” outlook for the oil&gas industry – at least on its side of the North Sea divide.
Moreover, Per Terje Vold, director general of the Norwegian Oil Industry Association (OLF), says: “The engine in the Norwegian economy is more important than ever. Wise political decisions are important to ensure that Norway maintains its solid footing in the future. The robust activity in the industry is saving jobs all over the country.”
This is the basic conclusion of an OLF study based on the responses of 4,921 companies across Norway, 1,080 of which have oil-related turnover.
However, Vold is worried that negative political forces are at work.
“When we see just how important the oil industry is for the future, it is worrying that some political parties want to rob people of their jobs and the welfare state of its most important source of income.”
Vold highlights the credit crunch, pointing out: “The survey shows that the most important job is to straighten out the credit crisis in the market.
“The investments for 2009 are already determined, and this is certainly reflected in the survey. However, like all other sectors, the companies in the oil industry are concerned with capital discipline.”
Recommended for you
