EnergyWatch

Norway bolsters oil-industry defenses against foreign takeovers

Russia seems to be interested in Norway's oil industry, prompting the Scandinavian country to seek out ways of restricting foreign access to ownership of its offshore fields.

Photo: Ole Jørgen Bratland - Statoil

Norway is seeking greater leeway to restrict foreign ownership of its offshore fields, a move seen to be potentially targeting a growing Russian interest in its resources.

In recent proposed changes to industry regulations, the Norwegian government beefed up its possibility to reject non-European entities on grounds of national security from acquiring offshore oil and gas licenses. 

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