Losing Lofoten would imperil Norway’s Arctic push, oil boss warns
Backing down on drilling off Norway’s Lofoten islands could also threaten the search for 16 billion barrels of oil and gas that lies beneath the Barents Sea
BY BLOOMBERG NEWS, MIKAEL HOLTER
The warning comes amid increasing signs that Labor, the nation’s biggest party and a long-time friend to the oil industry, is starting to give in to a push to shield the sensitive islands from exploration. Oil companies such as Equinor ASA have said access to the area, thought to hold about 1.3 billion barrels of oil and gas, is vital to prolonging Norway’s oil age.
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