Showing posts with label Norway. Show all posts
Showing posts with label Norway. Show all posts

Thursday, 22 February 2024

How Norway Built An EV Utopia While The USA is Struggling To Go Electric


See How Norway Built An EV Utopia While The USA is Struggling To Go Electric - CNBC Documentary.

CNBC on Youtube has the story.

Norway boasts the highest electric vehicle adoption rate in the world. 82% of new car sales were EVs in Norway in 2023. In comparison, 7.6% of new car sales were electric in the USA last year, according to Kelley Blue Book estimates. The Norwegian government started incentivizing the purchase of EVs back in the 1990s, but it wasn’t until Tesla and other EV models became available about ten years ago that sales really started to take off. Norway’s capital, Oslo, is also electrifying its ferries, buses, semi trucks and even construction equipment. Gas pumps and parking meters are being replaced by chargers. It’s an electric utopia of the future. CNBC flew across the globe to meet with experts, government officials and locals to find out how the Scandinavian country pulled off such a high EV adoption rate.

A so-called electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes charged by solar panels, or by converting fuel to electricity using a generator (often known as a hybrid) or fuel cells. EVs include but are not limited to road and rail vehicles, and broadly can also include electric boat and underwater vessels (submersibles, and technically also diesel- and turbo-electric submarines), electric aircraft and electric spacecraft.

Electric road vehicles surely include electric passenger cars, electric buses, electric trucks and personal transporters such as electric buggy, electric tricycles, electric bicycles and electric motorcycles/scooters. Together with other emerging automotive technologies such as autonomous driving, connected vehicles and shared mobility, EVs form a future vision of transportation called Connected, Autonomous, Shared and Electric (CASE) mobility.

Early electric vehicles first came into existence in the late 19th century, when the Second Industrial Revolution brought forth electrification. Using electricity was among the preferred methods for motor vehicle propulsion as it provides a level of quietness, comfort and ease of operation that could not be achieved by the gasoline engine cars of the time, but range anxiety due to the limited energy storage offered by contemporary battery technologies hindered any mass adoption of private electric vehicles throughout the 20th century. Internal combustion engines (both gasoline and diesel engines) were the dominant propulsion mechanisms for cars and trucks for about 100 years, but electricity-powered locomotion remained commonplace in other vehicle types, such as overhead line-powered mass transit vehicles like electric trains, trams, monorails and trolley buses, as well as various small, low-speed, short-range battery-powered personal vehicles such as mobility scooters. Hybrid electric vehicles, where electric motors are used as a supplementary propulsion to internal combustion engines, became more widespread in the late 1990s. Plug-in hybrid electric vehicles, where electric motors can be used as the predominant propulsion rather than a supplement, did not see any mass production until the late 2000s, and battery electric cars did not indeed become practical options for the consumer market until the 2010s.

Government incentives to increase technology adoption were indeed first introduced by Norway in 1990, followed by larger markets in the 2000s, including in the United States and the European Union, leading to a growing market for vehicles in the 2010s. Increasing public interest and awareness and structural incentives, such as those being built into the green recovery from the COVID-19 pandemic, are expected to greatly increase the electric vehicle market. During the COVID-19 pandemic, lockdowns reduced the number of greenhouse gases in gasoline or diesel vehicles. The International Energy Agency has stated that governments should do more to meet climate goals, including policies for heavy electric vehicles. A total of 14% of all new cars sold were electric in 2022, up from 9% in 2021 and less than 5% in 2020. Electric vehicle sales may increase from 1% of the global share in 2016 to more than 35% by 2030. As of July 2022 the global EV market size was $280 billion and was expected to grow to $1 trillion by 2026. Much of this growth is expected in markets like North America, Europe, and China; a 2020 literature review suggested that growth in the use of four-wheeled electric vehicles appears economically unlikely in developing economies, but growth in electric two-wheeler and three-wheeler is likely. At more than 20%, two/three-wheelers are already the most electrified road transport segment today, and are projected to continue being the largest EV fleet among all transport modes. Bloomberg reports that in 2023, 292,423,403 bicycles and tricycles sold, representing 49% of the total market. The same report noted that 666,479 buses were sold, with 38% of the market (these are higher priced vehicles, so actual numbers are lower than the percentage of sales), 26,583,856 passenger cars at 14% of sales, and 965,442 vans and trucks with 3% of sales.

Electric vehicles exist around the world, such as:
- Electric car, a Mercedes-Benz EQS
- Electric aircraft, the Solar Impulse 2, which circumnavigated the globe
- Electric tram, a Wiener Linien ULF-B in Vienna, Austria
- Battery electric bus, a BYD bus in Landskrona, Sweden
- E-bike in Manhattan, New York City
- Electric truck, Class 8, a Tesla Semi in Rocklin, California
- Electric cart, an Italcar Attiva C2S.4
- Electric boat, the Tûranor PlanetSolar, the first solar-powered boat to circumnavigate the whole world

Tuesday, 19 May 2020

Norway coronavirus death toll is 233



Norway's Coronavirus Covid-19 death toll has reached 233. Norway has total confirmed virus cases of 8,267.

During the Coronavirus Covid-19 Pandemic, Norway is making a plan for reopening the economy. There is a partial reopening of some businesses in the region.

Norway’s plan includes steps already in place for employees, such as wearing face masks and other personal protective equipment, enhanced cleaning and disinfecting practices and a screening process, among other precautions. Employers are responsible for protecting their employees.

Total Global Confirmed Cases: 4,897,492

Countries with most cases:

1,528,568 USA
299,941 Russia
271,885 Brazil
250,138 United Kingdom
232,037 Spain
226,699 Italy
180,933 France
177,778 Germany
151,615 Turkey
124,603 Iran
106,475 India
99,483 Peru
84,063 China
80,493 Canada

Tuesday, 21 April 2020

Norway's Orkla ASA is acquiring Norgesplaster Holding


Orkla ASA is a huge Norwegian conglomerate. It operates in the Nordic region, Eastern Europe, Asia and the USA. The company was founded in 1654. At this time, Orkla operates in the branded consumer goods, aluminium solutions and financial investment sectors. The company's strategic focus is on growth in its branded consumer goods operations. Orkla ASA is listed on the Oslo Stock Exchange and its head office is in Oslo, Norway. As of 31 December 2018, Orkla had 18,510 employees. The Group’s turnover in 2018 totalled NOK 40.8 billion. The revenue in 2013 was NOK 39,6 billion. Operating income was NOK 4.6 billion (2017). The official company website is www.orkla.com.

At this time, 1 Norwegian Krone = 0.094 United States Dollar.

Here are some of Orkla Investments:

Gränges - Aluminium (Listed on the Stockholm Stock Exchange)
Hydro Power - Power plants
Sarp Falls - Power plant
AS Saudefaldene (85%) - Power plant
Jotun (42.53%) - Paint manufacturer
Orkla Eiendom - Real estate related to Orkla's own operations
Sapa Group (50%) - Aluminium

Last week, Orkla said that it is acquiring Norgesplaster. Orkla will purchase 100% Of Shares In Norgesplaster Holding. The company will be consolidated into Orkla's Financial Statements as of April 1, 2020. The parties have agreed not to disclose the purchase price.

Norgesplaster Holding AS is located in VENNESLA, AGDER, Norway. It is part of the Pharmaceutical Manufacturing Industry. Norgesplaster Holding AS generates 1.78 million in sales (USD). There are 52 companies in the Norgesplaster Holding AS corporate family.

The history of Orkla is interesting. Orkla started out in 1654 with pyrite mining at Løkken Verk in Sør-Trøndelag, Norway. Later on, the company also started mining copper. However, the copper mining was abandoned in 1845.

In 1929, Orkla became listed on Oslo Stock Exchange. In 1931, the new smelting plant at Thamshavn outside Orkanger was opened. In 1941, Orkla started with a separate investments portfolio, and opened offices in Oslo in 1975. In 1984, Orkla started a major takeover of Norwegian newspapers, creating Orkla Media as one of the three largest media companies in Norway.

In November 2018, Orkla announced that it will acquire Finnish Kotipizza Group. The acquisition helped Orkla to increase its presence in channels growing faster than traditional grocery.

Here are some of the interesting Brands:

Orkla Foods:

Abba Seafood - Seafood
Ahti - Herring
Bähncke - Condiments
Banos - Banana spread
Beauvais - Condiments
Big One - Frozen pizzas
Big One Diner - American food
Bjellands Fiskeboller - Canned fish balls
Bob - Juice, fruit preserves
Boy - Herring
Den Gamle Fabrik - Fruit preserves
Denja - Salads, herrings
Ejderns - Caviar
Ekstrom - Desserts
Felix - Condiments, potatoes, vegetables
Frödinge - Desserts
Fun Light - Squash
Geisha - Rice products
Gimsøy Baker'n - Baking ingredients
Gimsøy Drinkmix - Drink mix
Glyngøre - Herring
Grandiosa - Frozen pizzas (Norway)
Grebbestads - Anchovies
Gutta - Juice
Gøy - Squash
Hold-It - Calzones
Hållö - Shellfish
Idun - Condiments
Jacky - Yoghurts, puddings
JOKK - Juice
K-salat - Salads
Kalles Kaviar - Caviar
Kikkoman - Soy sauces
Kokkeklar - Soups
Kung Gustaf - Seafood
Lierne - Lefse
Limfjord - Seafood
Liva Energi - Energy drinks, protein drinks
Lucullus - Herring
Løvstek - Cube steak
Mors hjemmebakte flatbrød - Flatbrød
Mr. Lee - Instant noodles
Mrs. Cheng's - Asian food
Nora - Fruit preserves, canned vegetables, desserts, squash (Norway)
Nugatti - Chocolate spreads (by Stabburet, Norway)
Nøtte - Hazelnut butter
Pastella - Pasta
Paulúns - Natural food
Pizza Originale - Frozen pizzas
Risifrutti - Porridges
SaritaS - Indian food
Sjokade - Chocolate spreads
Spilva - Condiments, canned vegetables, juices, ready meals
Stabburet Leverpostei - Leverpostej
Stabburet Pai - Frozen pies
Stabburet Picnic - Canned ham
Sunda - Honey
SUSLAVICIUS - Condiments, fruit preserves
Svennes - Caviar
Tomtegløgg - Mulled wine
Toro - Soups, desserts, spices, powdered drink mixes (Rieber & Søn, Norway)
Trondhjems - Canned food
Truly Thai - Thai food
Vesta - Herring
Vestlandslefsa - Lefse
Vossafår - Cold cuts
Önos - Fruit preserves, squash

Orkla Confectionery & Snacks:

Ballerina - Cookies
Bamsemums - Chocolate
Bergene Melk - Chocolate
Bixit - Cookies
Bocca - Chocolate
Café bakeriet - Cookies
Caramello - Chocolate
Crispo - Chocolate
Cuba - Chocolate
Doc - Throat lozenges
Extra - Chewing gum (Distribution only)
Fresh walk - Sandwiches
Gjende - Cookies
Göteborgs Kex - Cookies
Gullbrød - Marzipan
Hjemmelaget Julemarsipan - Marzipan
Hobby - Chocolate
Hubba Bubba - Chewing gum (Distribution only)
IFA - Throat lozenges
Juicy Fruit - Chewing gum (Distribution only)
Julegris - Marzipan pig
Julemarsipan - Marzipan
Kalev - Chocolates, biscuits, cookies, marzipans, caramels (Estonia)
KiMs - Potato chips (Norway, Denmark)
Knott - Candy
Kornmo - Biscuits
Krembanan - Chocolate
Kremtopper - Chocolate
Krokantrøffel - Chocolate
Laban - Candy
Laima - Chocolate (Latvia)
Latfood - Chips (Latvia)
Mokkabønner - Chocolate
Mokkatrøffel - Chocolate
Nero - Chocolate, liquorice (by Nidar, Norway)
New Energy - Chocolate
Nidar - Chocolates, bulk candy (Norway)
OLW - Potato chips
Panda - Chocolate, liquorice candy (Finland)
Panda Liqueur - Chocolate
Polly - Nuts (by KiMs Norge, Norway)
Safari - Cookies
Sfinx - Chocolate box
Skipper - Liquorice candy
Smash! - Chocolate (by Nidar, Norway)
Smørbukk - Caramel
Snøstenger - Marzipan
Stratos - Chocolate
Sætre - Biscuits, cookies (Norway)
Troika - Chocolate

Orkla Care:

Lilleborg
Blenda - Laundry products
Comfort - Fabric softeners
Define - Hair care products
Dr. Greve - Hygiene products
Jif - Cleaning products
Jordan - Dental hygiene products, cleaning supplies
Klorin - Chlorine products
Krystal - Cleaning products
Lano - Soap
Lypsyl - Moisturising lip balm (distribution only)
Milo - Laundry products
Naturelle - Soaps
OMO - Detergents
Pepsodent - Toothpaste (distribution only)
Persil - Laundry products
Salmi - Cleaning products
Solidox - Toothpaste
Sterilan - Deodorants
Sun - Dishwashing
Svint - Steel wool soap
Zalo - Dishwashing products

Orkla Health:

Collett - Vitamin supplements
CuraMed - Throat lozenges
Gerimax - Ginseng products
Gevita - Vitamin supplements, mineral supplements, herbal remedies
Litozin - Rosehip powder
Maxim - Sports nutrition
Möller's Tran - Omega-3 products
Nutrilett - Protein bars, dieting products
Pikasol - Omega-3 supplements
Sana-sol - Vitamin supplements
Triomar - Omega-3 supplements
Vitaminbjørner - Vitamin supplements
Vivag - Intimate care products

Pierre Robert Group:

La Mote - Clothes
Pierre Robert - Clothes

Orkla Food Ingredients:

AMA - Margerine
Bakkedal - Butter
BaKo - Baking equipment, cake decorations
Bæchs Conditori - Baked goods
Candeco - Cake decorations, ice cream decorations
Credin - Baking products
Frima Vafler - Ice cream cones
Jästbolaget - Yeast
Kronjäst - Yeast
KåKå - Baking products
Mors Hjemmebakte - Baking products
Naturli' - Organic beverages
Nic - Ice cream accessories
Odense - Marzipan, nougat, chocolate
PureOil - Cooking oil
Sonneveld - Professional baking products

Norway's Aker ASA holding company has industrial and financial investments


Aker ASA is a Norwegian holding company engaged in offshore fishing, construction and engineering. The company is listed on the Oslo Stock Exchange. It is controlled by Kjell Inge Røkke with 66.66% ownership through TRG Holding. The corporate headquarters are located in Oslo, Norway. The company was founded in 2004. The name comes from the former Akers mekaniske Verksted, which was closed in 1982. The company's stock is traded as OSE: AKER. The huge company's revenue was NOK 64,647 million in 2008). The number of employees is 26,600 (2008). The official company website is www.akerasa.com.

A holding company is a company that owns the outstanding stock of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies to form a corporate group.

The Financial Stock, Aker ASA, is an interesting investment. Companies in the financial sector have receive lots of coverage today as analysts think hard about these investments.

Aker’s ownership interests are mostly in industries which we have in-depth knowledge of: oil and gas, fisheries & biotechnology and maritime assets. These key Norwegian industries are international. Each Aker investment portfolio company is well positioned to benefit from the growing demand for sustainable production of energy and food.

Aker performs these successful tasks: driving operational and strategic improvement, assisting with financing and capital structures, assessing M&A and restructuring opportunities, and continuously developing the capability of the human resource base. Aker certainly has much industrial and financial expertise. The company goal, of course, is long-term profitable growth. The objectives are also competitive market positions and sound organisational cultures. Sustainable value creation for all shareholders is also the goal of the company.

Aker’s industrial holdings totalled NOK 54.2 billion at the end of 2019. This equates to 88 per cent of the total asset value of Aker ASA and holding companies. The industrial holdings portfolio has investments in: Aker BP, Aker Energy, Aker Solutions, Akastor, Kvaerner, Ocean Yield, Aker BioMarine and Cognite. Aker has a long-term investment horizon for these companies.

Aker’s financial investments totalled NOK 7.7 billion at the end of 2019, including NOK 3.7 billion in cash. This equates to 12 per cent of the total asset value of Aker ASA and holding companies. The financial investments are: cash, equity investments in listed companies such as American Shipping  Company, Philly Shipyard, REC Silicon and Solstad Offshore, the real estate development company FP Eiendom and other assets  and receivables. In 2019, Aker Energy and Cognite were reclassified from the financial to the industrial portfolio.


At year-end 2019, Aker had cash holdings of NOK 3.7 billion. The company’s liquidity reserve, including undrawn credit facilities,  totalled NOK 6.6 billion as at 31 December 2019.

At this time, 1 United States Dollar equals 10.64 Norwegian Krone.

The history of Aker ASA is interesting. Kjell Inge Røkke used his investment company Resource Group International to purchase large amounts of Aker shares, and merged the two companies in 1996 to form Aker RGI.

Norway's Telenor ASA is good investment in the telecommunications industry


Telenor ASA is a Norwegian multinational telecommunications company headquartered at Fornebu in Bærum. This is close to Oslo. It is one of the world's largest mobile telecommunications companies with operations worldwide. It is focused on Scandinavia, Eastern Europe and Asia. It has extensive broadband and TV distribution operations in 4 Nordic countries. It has a 10-year-old research and business line for Machine-to-Machine technology. Telenor owns networks in 13 countries, and has operations in 29 countries. Telenor is listed on the Oslo Stock Exchange. The company had a market capitalization in November 2015 of kr 225 billion. This made it the third largest company listed on the OSE after DNB and Equinor. The operating income‎ was ‎NOK 46.50 billion in 2016. The Net income‎ was ‎NOK 2.80 billion in 2016. The number of employees‎ is ‎35,121 (in 2014).

The stock of Telenor ASA (OTC:TELNY) is interesting to watch. The stock has RSI of 48.8. RSI gives an indication of the impending reversals or reaction in price of a security. RSI moves in the range of 0 and 100. An RSI of 0 means that the stock price has fallen in all 14 trading days. An RSI of 100 means that the stock price has risen in all 14 trading days. In technical analysis, an RSI of above 70 is considered an overbought. An RSI of less than 30 is considered as an oversold area.

Telenor ASA (OTC:TELNY) stock average trading capacity stands with 89.787k shares and relative volume is now at 1.73 ×. Think about the Telenor ASA (OTC:TELNY) stock price movements in past 50 Days period and 52-Week period. Telenor ASA stock had a 12-month low at $13 -18.49% and a 12-month high of $22 +43.96%. The highs and lows play an important role in determination of the predicted future prices of the stock.

The Telenor ASA (OTC:TELNY) stock showed volatility or average true range percent (ATRP 14) at 0.0477%. Volatility is a rate at which the price of a security increases or decreases for a given set of returns. Average true range percent (ATRP) measures volatility on a relative level. This is opposed to the ATR, which measures volatility on an absolute level. ATRP allows securities to be compared whereas ATR does not. That means lower-priced stocks won’t necessarily have lower ATR values than higher priced stocks.

Think about the impact that the Coronavirus Covid-19 Pandemic had on stock investments. At this time, Norway has 182 deaths from the virus. Sweden has 1,765 deaths from the virus. Sweden has nearly 10 times the number of COVID-19-related deaths than its Nordic neighbors. Norway has half as many people as Sweden. Finland had 141 deaths. Finland has a population similar to Norway's.

Sweden had a controversial coronavirus strategy. The country has left schools, restaurants, and gyms open. The government banned gatherings over 50 people and urged residents to self-isolate.

Sweden's Nordic neighbors Norway and Finland approached the virus differently. This could be why they're having just a fraction of COVID-19-related deaths.

Norway went into lockdown in mid-March, closing schools, restaurants, cultural events, gyms, and tourist attractions. It also banned outside travelers. Finland has been stockpiling medical supplies since the Cold War. It restricted border traffic, banned gatherings of 10 or more people, and closed schools as part of its coronavirus guidelines.

The history of the huge Telenor ASA is interesting. The company was founded‎ in ‎1855. It started as a state-operated monopoly provider of telegraph services named Telegrafverket. The first Norwegian planning for a telegraph was launched within the Royal Norwegian Navy in 1848. However, by 1852, the plans were public and the Parliament of Norway decided on a plan for constructing a telegraph system throughout the country. Televerket began by connecting Christiania (now Oslo) to Sweden (Norway was at that time in a union with Sweden) as well as Christiania and Drammen. By 1857 the telegraph had reached Bergen on the west coast via Sørlandet on the south coast, and by 1871 it had reached Kirkenes on the far north coast. With greater expansions, Cable connections were opened to Denmark in 1867 and to Great Britain in 1869. The telegraph was certainly a useful tool for merchants. They could use the electric telegraph to instantly communicate between different locations.

Norway's Norsk Hydro ASA has aluminum brands with a smaller CO2 footprint


Norsk Hydro ASA is a Norwegian aluminium and renewable energy company, headquartered in Oslo. It is one of the largest aluminium companies in the world. Amazingly, it has operations in about 50 countries around the world and is active on all continents. The Norwegian state owns 34.3% of the company through the Ministry of Trade, Industry and Fisheries. Another 6.5% is owned by Folketrygdfond, which administers the Government Pension Fund of Norway. The company has about 35,000 employees. The company stock is Norsk Hydro ASA (OTC:NHYDY).

Consider Norway's Norsk Hydro ASA as an interesting stock investment. Think about the daily volume of the number of shares that are traded during the trading day. High volume is an indication that a stock is actively traded. Low volume is an indication that a stock is less actively traded. Some stocks always have high volume - these are popular among day traders and investors. Other stocks always have low volume - these are not interesting to short-term traders. (OTC:NHYDY) average trading capacity is at 176.222k shares and relative volume is now at 3.24 ×.

Smart investors study the details of their investments: daily changes, stock price movement for a certain time frame, stock volatility, performance indicators, technical analysis and analyst ratings. Norsk Hydro ASA (OTC:NHYDY) has interesting stock price movement in past 50 Days period and 52-Week period. The stock has a 12-month low at $2 -8.25% and a 12-month high of $5 +125.73%.

Look at past performance of a stock to try to predict the stock's future. Norsk Hydro ASA stock showed -0.0762% return for the recent month and disclosed -0.4402% return in 3-month period. The stock had -0.6234% return over 5 years. There was -0.5318% return in the yearly time period. That was the the fund’s track record, but the future performance could be different.

The definitions of stock volatility are interesting. The stock unfolded Volatility or average true range percent (ATRP 14) at 0.0777%. Volatility is a rate at which the price of a security increases or decreases for a given set of returns. Average true range percent (ATRP) measures volatility on a relative level. This is opposed to the ATR, which measures volatility on an absolute level. ATRP allows securities to be compared whereas ATR does not. That means lower-priced stocks won’t necessarily have lower ATR values than higher priced stocks.

The Beta factor is now at 0.83. What is it? BETA indicates whether a certain stock is more or less volatile than the market as a whole. If a stock has a beta score higher than 1, it means that volatility is high. Less than 1 means that volatility is low.

Norway's Norsk Hydro ASA is an aluminum producer with many competitors, such as: Alcoa (NYSE:AA), Britain's Rio Tinto (NYSE:RIO), Aluminum Corporation of China Limited (CHALCO), UC Rusal, China Hongqiao Group Limited, China Power Investment Corporation, Emirates Global Aluminium (EGA), Shandong Xinfa Aluminum and East Hope Group.

Aluminum producers could charge more for aluminum produced with a smaller CO2 footprint. For example, Russian aluminum giant Rusal sells an "Allow" brand of low-carbon-certified aluminum. The prices would be $20 to $50 more per ton than for ordinary aluminum in global markets. Rio Tinto sells a "RenewAl" aluminum brand.

Norsk Hydro actually has 2 green aluminum brands: "Hydro 75R," which contains at least 75% recycled aluminum, and "Hydro 4.0," which, like Rio Tinto's offering, has less than four tons CO2 emitted per ton of aluminum produced.

The history of Norsk Hydro ASA is interesting. The company was founded on December 2, 1905 as Norsk hydro-elektrisk Kvælstofaktieselskab (lit. Norwegian hydro-electric nitrogen limited) by Sam Eyde, creating an opportunity for using a novel technology for producing artificial fertilizers by fixing nitrogen from air. The technology was developed by the Norwegian scientist Kristian Birkeland. The method is still known as the Birkeland-Eyde process. For this process, a power plant was built at the Svelgfossen waterfall near Notodden.

Hydro's 1st factory was built at Notodden (opened in 1907). Another was at Rjukan, Tinn (opened in 1911). In 1927 the company formed a partnership with the German company IG Farben in order to gain access to new better process. By 1945, IG Farben had become a majority shareholder in Norsk Hydro.

Today, these are the top shareholders of Norsk Hydro ASA:

34.30% - Government of Norway
05.09% - Folketrygdfondet
04.79% - Capital Research & Management Co. (World Investors)
02.90% - Schroder Investment Management Ltd.
02.37% - DNB Asset Management AS
02.04% - Baillie Gifford & Co.
01.97% - The Vanguard Group, Inc.
01.60% - Capital Research & Management Co. (Global Investors)
01.35% - J.O. Hambro Capital Management Ltd.
01.35% - Storebrand Asset Management AS

Monday, 20 April 2020

Norway's Equinor plans to build floating offshore wind turbines


Equinor ASA (formerly Statoil and StatoilHydro) is a Norwegian multinational energy company. The name Equinor is formed by combining "equi" (the root for words such as equal) and "nor" (indicates Norwegian origin). It is headquartered in Stavanger, Norway. It is primarily a petroleum company. It operates in 36 countries with some investments in renewable energy. The company has about 20,200 employees. The current company was formed by the 2007 merger of Statoil with the oil and gas division of Norsk Hydro. As of 2017, the Government of Norway is the largest shareholder with 67% of the shares. The rest is public stock.

Equinor is the largest operator on the Norwegian continental shelf. It has 60% of the total production. The fields operated are Brage, Heimdal, Grane, Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjørn, Mikkel, Njord, Norne, Ormen Lange, Oseberg, Sleipner, Snorre, Snøhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve, and Åsgard. The company also has processing plants at Kolsnes, Kårstø, Mongstad, Tjeldbergodden, and Melkøya.

Equinor also operates oil and gas fields in Australia, Algeria, Angola, Azerbaijan, Brazil, Canada, China, Libya, Nigeria, Russia, United States, and Venezuela.

There is certainly an oil crash happening in the world right now. Oil prices collapsed to more than 2-decade lows Monday. Traders are increasingly concerned that storage facilities are reaching their limits. The huge collapse in oil markets is showing no signs of easing. Some oil storage facilities are at risk of overflowing. Some oil producers may start paying customers to take crude off their hands. Global stocks struggle to find direction amid oil crashes. Oil plunged to the lowest level since 1986 as the deadly pandemic threatens global economies. An entire decade of demand growth could be erased. Thousands of jobs could be lost. Hundreds of billions of dollars could be wiped out from company valuations.

Investors got some relief after seeing signs of a peak (not going higher on the graph) of the Coronavirus Covid-19 cases in Europe and North America. Norway is starting to gradually re-open. Norwegians are slowly starting to get more access to day care centers, shops, businesses and their own holiday homes. Several municipalities are also re-opening part of their borders. Hair salons, dental offices. physiotherapists, skin care clinics and some other places are reopening. Most are due to be back in business by the end of the month.

Equinor is going forward with its plans to build floating offshore wind turbines. Norway approved on Wednesday Equinor’s 4.8 billion Norwegian crowns ($466 million) plan to build the turbines that will provide electricity to North Sea oil and gas platforms.

The project is going ahead despite Equinor’s decision to cut investment following a plunge in oil prices that has reduced the company’s cash flow. The company has decided to cut its 2020 capital spending to $8.5 billion from an original plan of $10-11 billion. This is after oil prices fell because the Coronavirus COVID-19 pandemic.

The Norwegian government has agreed to provide 2.3 billion crowns in financial support. This in addition to 566 million crowns from the industry’s NOx fund, set up to reduce emissions from ships.

Thursday, 2 April 2020

Norway's coronavirus death toll is 47



City lockdowns are happening all over the world. It's interesting what people are doing around the world to keep their businesses open and operating. In this video, these two Oslo bookshop owners choose to go delivery-only to keep their business afloat at the start of lockdown. Pil Cappelen Smith and Anders Cappelen deliver books wearing full hazmat suits and gas masks in order to raise local awareness of the seriousness of the situation. The global crisis is worsening. In the end, they decided to embark on one last delivery run before deciding to shut up shop completely.

In some cities around the world, people make deliveries with no hazmat suits. Some delivery persons have a simple mask or maybe even no mask. People certainly react based on how many virus deaths their city has. Some cities may have 1 or 2 or 10 Coronavirus Covid-19 deaths. New York City in USA is having one of the worst Coronavirus Covid-19 death situations right now.

Oslo is the capital and most populous city of Norway. It constitutes both a county and a municipality. Oslo was founded as a city at the end of the Viking Age in the year 1040 under the name Ánslo, and established as a kaupstad or trading place in 1048 by Harald Hardrada. The amazing city was elevated to a bishopric in 1070 and a capital under Haakon V of Norway around 1300. In 1948 Oslo merged with Aker, a municipality which surrounded the capital and which was 27 times larger, thus creating the modern, vastly enlarged Oslo municipality.

There is now a total of 50,230 deaths in the world from Coronavirus Covid-19. These countries have the most deaths:

Italy 13,155 deaths

Spain 10,003 deaths

France 4,032 deaths

Read more Norway Coronavirus Covid-19 details here:

April 2, 2020 Coronavirus leaves wealthy Norway facing tough spending choices - ft.com

April 1, 2020 More than 51,000 report coronavirus symptoms in Norway - thelocal.no

March 28, 2020 Norway’s Prime Minister Defends Measures to Combat Coronavirus - bloomberg.com

March 30, 2020 Norway and Sweden: Battling Coronavirus in Two Different Worlds - blogs.prio.org

March 30, 2020 Hospitals in Norway report signs that coronavirus lockdown is working - thelocal.no

March 27, 2020 WHO virus study starts in Norway - newsinenglish.no

March 27, 2020 WHO officials enroll first patients from Norway and Spain in ‘historic’ coronavirus drug trial - cnbc.com

March 31, 2020 Norway PM sees positive early signs in fight against coronavirus - nationalpost.com

March 28, 2020 How Norway’s Travel Industry Is Coping Amid Coronavirus Lockdown - forbes.com

Above: Flag of Norway

Wednesday, 26 February 2020

How Norway designed a more humane prison



A better way to design prison architecture could mean more comfort, better views from the window and more walking spaces for exercise. Norway has fascinating buildings. Halden Prison in Norway looks kind of like a comfortable hotel.

It has no barbed wire, no cramped cells and more outdoor walking spaces. The plan to create a more humane prison focuses on architecture that makes people "feel better." Looking at boring walls every day could feel like a punishment for some people.

Most prisons in the world have everything inside a single building. This would make it quicker for inmates to move around, but the design is "visually unappealing." To add to that, tight spaces could create more conflicts.

Halden is kind of like a campus design. Inmates move from one building to another - this creates a pleasant exercise walk. More open spaces and lots of windows create the illusion that the place is not a prison. It is also nice to have construction materials reduce noise and take advantage of natural light. Materials like cork and wood can muffle disturbing noises.

Halden’s design style is expensive. It can be implemented in places with good social support systems, like Western Europe and Scandinavia. More prisons could be like this in the future. This style of building creates more direct contact between inmates and guards. This results in better security and less violence.

The GDP per capita of Norway in 2019 was $75,452, $6,033 less than in 2018, when it was $81,485.

The economy of Norway is a developed mixed economy with state-ownership in strategic areas. The country has a very high standard of living compared with other European countries. Norway has a strongly integrated welfare system. Norway's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil.

Sunday, 16 February 2020

How Norway runs its trillion dollar state fund



DW is a German public broadcast service. DW explains how Norway runs its trillion dollar state fund. Norway's sovereign wealth fund is also known as the 'Oil Fund.' It has assets of 9 trillion Norwegian kroner. That's about trillion dollars. It was set up in 1990. It is now the world's largest fund of its kind. The fund certainly makes various investments worldwide and is run by the central bank. The large money that has been put into the fund was made from Norway's vast oil reserves.

Recently, the fund's lucrative investments have become a topic of intense debate. The Norwegian parliament has barred the fund from owning stakes in a range of arms, tobacco and fossil-fuel firms. There seems to be a massive endorsement of green energy. However, environmentalists are not very happy. Environmentalists think that the fund can be managed better and more responsibly.

The Government Pension Fund of Norway actually comprises 2 entirely separate sovereign wealth funds owned by the government of Norway.

(1) The Government Pension Fund Global is also known as the Oil Fund. It was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. It has over US$1 trillion in assets, including 1.4% of global stocks and shares. This makes it the world’s largest sovereign wealth fund. Amazingly, in May 2018 it was worth about $195,000 per Norwegian citizen. It also holds portfolios of real estate and fixed-income investments. Many companies are excluded by the fund on certain ethical grounds.

(2) The Government Pension Fund Norway is smaller and was established in 1967 as a type of important national insurance fund. It is managed separately from the Oil Fund and is limited to domestic and Scandinavian investments. It is therefore a key stock holder in many large Norwegian companies, predominantly via the Oslo Stock Exchange.

OSE is known as the Oslo Stock Exchange.

This is a stock exchange within the Nordic countries. It offers Norway’s only regulated markets for securities trading today. The stock exchange offers a full product range including equities, derivatives and fixed income instruments. No. of listings: 220 (May 2017). Indices: OBX, OSEAX. Volume: NOK 4.6 billion (2017).

Wednesday, 12 February 2020

Norway’s $47BN Coastal Highway



The Norwegian government wants to create the largest infrastructure project in the country's history.

See more interesting construction videos at:
http://www.TheB1M.com

Norway's western coast has some pretty good looking landscapes. It certainly has been carved by glaciers throughout the ages. The current travel route is relatively quite slow. The Norwegian government is working on improving access to services, residential markets and labour markets across the country’s western regions by starting the largest infrastructure project in the nation’s history. This project would speed up the travel time.

The E39 runs between, Kristiansand in the far south of the country and Trondheim in the north. The route navigates its way across the fjord network and features no fewer than 7 ferry crossings. Norway is actually proposing to remove all ferry crossings on the E39 highway in order to better connect the region.

The new coastal highway project aims to completely eliminate the need for ferry services. It's possible to build a series of bridges and tunnels across, through and under the landscape.

The whole route won't be completely finished until 2025. The government has also unveiled plans to build the world's first sea tunnel for ships to bypass the storm-battered Stan peninsula in Norway. The fascinating project, estimated to cost $314 million will begin in 2019 and take about three to four years to complete.

Underwater tunnels are an interesting idea. Right now there is a Norwegian 7.7 km Eiksund Tunnel. It is known for being the deepest undersea tunnel in the world, reaching the depth of −287 m below sea level.

Right now, there are over 900 various road tunnels in Norway with total length exceeding 750 km.

Here are Norway's longest road tunnels: (Length: m):

Lærdalstunnelen - 24,509 m
Gudvangatunnel - 11,428 m
Folgefonntunnel - 11,150 m
Toven Tunnel - 10,665 m
Jondalstunnelen - 10,400 m
Mælefjelltunnelen - 9,354 m
Korgfjelltunnelen - 8,530 m
Steigentunnelen - 8,079 m
Bømlafjordtunnel - 7,888 m
Eiksundtunnelen - 7,765 m
Svartisentunnelen - 7,615 m
Høyangertunnelen - 7,543 m
Vallaviktunnelen - 7,510 m
Åkrafjordtunnelen - 7,400 m

Here are Norway's longest subsea road tunnels: (Length: m):

Karmøy Tunnel - 8,900 m
Bømlafjordtunnel - 7,888 m
Eiksundtunnelen - 7,765 m
Oslofjordtunnel - 7,230 m
Nordkapptunnelen - 6,871 m
Byfjordtunnelen - 5,875 m
Hitratunnelen - 5,645 m

Here are Norway's longest railway tunnels: (Length: m):

Romeriksporten - 14,580 m
Lieråsen tunnel - 10,723 m
Finsetunnelen - 10,600 m
Kvinesheitunnele - 9,065 m
Hægebostadtunnelen - 8,474 m
Trollkona tunnel - 8,043 m
Ulrikentunnelen - 7,670 m
Majorstuen-Hasle
Oslo Metro line 5 - 7,060 m

The economy of Norway is certainly a developed mixed economy with some state-ownership in strategic areas. Although sensitive to important global business cycles, the economy of Norway has shown strong growth since the start of the industrial era.

Currency of Norway is the Norwegian krone.

Norway Gross Domestic Product: 398.8 billion USD (2017) World Bank
Norway GDP per Capita: 75,504.57 USD (2017) World Bank
Norway Unemployment rate: 3.9% (Sep. 2019) Eurostat
Norway GNI per capita: 63,530 PPP dollars (2017) World Bank
Norway Gross national income: 335.6 billion PPP dollars (2017) World Bank
Norway GDP growth rate: 1.9% annual change (2017) World Bank


Above: Some of these Norwegian coins have holes in them. This might be because you can put a string through them and hang them on a string conveniently.


Above: Interesting Norwegian paper bills have pictures of fish, sailboat and lighthouse.


Above: Beautiful Norwegian Landscape


Above: Flag of Norway


Above: Beautiful buildings in Norway




Tuesday, 11 February 2020

Norway - Is It The Perfect Economy?



This is an interesting video on Youtube by Economics Explained. Is Norway's Economy a mixed economy done right? This video thinks: is it really the perfect economy or just another country that won the oil lottery?

The Nordic model comprises the economic and social policies as well as typical cultural practices common to the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden). Currently, the Nordic countries have been described as being highly democratic.

The economy of Norway is a developed mixed economy with state-ownership in strategic areas. Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. The country has a very high standard of living compared with other European countries, and a strongly integrated welfare system. Norway's modern manufacturing and welfare system rely on a financial reserve produced by exploitation of natural resources, particularly North Sea oil. According to interesting United Nations data for 2016, Norway together with Luxembourg (a small state) and Switzerland are the only 3 countries in the world with a GDP per capita above US$70,000 that are neither island nations nor microstates.

Norway is a Scandinavian country encompassing mountains, glaciers and deep coastal fjords. Oslo is the capital city. Oslo has many green spaces and museums. It is fascinating that preserved 9th-century Viking ships are displayed at Oslo’s Viking Ship Museum. Bergen, with colorful wooden houses, is the starting point for cruises to the dramatic Sognefjord. Norway is also known for fishing, hiking and skiing, notably at Lillehammer’s Olympic resort. Many interesting winter sports can be played in the winter time.

Here are the Most Popular Winter Sports in Norway: cross-country skiing, alpine/downhill skiing, ski jumping, biathlon, snowboarding, curling, ice hockey and dog sledding.