{"id":4622,"date":"2016-09-15T11:57:00","date_gmt":"2016-09-15T11:57:00","guid":{"rendered":"https:\/\/oradeo.com\/?p=4622"},"modified":"2016-09-22T15:34:33","modified_gmt":"2016-09-22T15:34:33","slug":"norway-declares-crisis-in-oil-industry-as-devaluation-continues","status":"publish","type":"post","link":"https:\/\/oradeo.com\/2016\/09\/15\/norway-declares-crisis-in-oil-industry-as-devaluation-continues\/","title":{"rendered":"Norway Declares Crisis in Oil Industry as Devaluation Continues"},"content":{"rendered":"<h2><\/h2>\n<p><em>Bloomberg Business, Saleha Mohsin &amp; Mikael Holter, Jan 14 2016<\/em><\/p>\n<p>With oil dropping below $30 a barrel, producers in western Europe\u2019s biggest crude exporting nation are now considerably worse off than they were in the darkest hours of 2008. Norway\u2019s oil \u201cindustry is in a crisis now, we can\u2019t deny that,\u201d Bente Nyland, director general of the Norwegian Petroleum Directorate, told Bloomberg. The krone lost 0.8 percent against the euro as of 9:58 a.m. in Oslo, with crude oil down about 2.8 percent. Nyland says there\u2019s a tendency for oil companies to prioritize short-term earnings rather than \u201clong-term value creation,\u201d as prices continue to fall. But the government is ruling out further stimulus. Finance Minister Siv Jensen says budget proposals put forward last year already contain \u201ca lot of expansion\u201d and will help stem job losses.<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-01-14\/norway-government-rules-out-extra-stimulus-as-oil-rout-persists\" target=\"_blank\"><b>Read more \/ watch the video<\/b><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg Business, Saleha Mohsin &amp; Mikael Holter, Jan 14 2016 With oil dropping below $30 a barrel, producers in western Europe\u2019s biggest crude exporting nation are now considerably worse off&#8230;<\/p>\n","protected":false},"author":22,"featured_media":4997,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Norway Declares Crisis in Oil Industry as Devaluation Continues | Oradeo<\/title>\n<meta name=\"description\" content=\"| Norway Declares Crisis in Oil Industry as Devaluation Continues\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oradeo.com\/2016\/09\/15\/norway-declares-crisis-in-oil-industry-as-devaluation-continues\/\" \/>\n<meta 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