Oil & Gas

ONS 2016 gearing up to be biggest show yet

ONS has sold more exhibition space ahead of the event next year than it did for the whole show in 2014. Shows organisers said the growing interest in ONS, which takes place in Norway, has been led by a desire for more collaboration in order to meet the industry’s current challenges. The news comes after a number of exhibitors – including BP – opted out of exhibiting at Offshore Europe in Aberdeen amid the decline in oil price.

Other News

Airline ends business class only flights from Stavanger to Houston for oil workers

An airline has stopped business class only flights for oil workers from Stavanger to Houston after the decline in oil price. The journeys – which could cost as much as $7340 – were started in August last year by Scandinavian airline SAS. However the decline in demand from customers to fly on the specially upgraded Boeing 737-700 aircraft has seen the company invest in an alternative route from Copenhagen to New York.

Oil & Gas

Norway cuts rate to record low as oil slump rears recession risk

Norges Bank cut interest rates for a second time since oil prices collapsed to avoid a recession in western Europe’s biggest crude producer. The overnight deposit rate was cut by 25 basis points to a record low 1 percent, the Oslo-based central bank said. The decision was forecast by 16 of 17 economists surveyed by Bloomberg, while one saw no change. The bank signaled it may cut rates further.