Over 1.700 riggansatte laid off – Bergens Tidende

Over 1.700 employees, in the course of the week be laid off as a result of oljestreiken, informs the Rederiforbundet.

Wednesday was 350 employees in Baker Hughes, Schlumberger and Halliburton laid off, something which, according to the Norwegian oil and gas is a result of the strike which started 21. september.

Rederiforbundet states that the seven rigs are taken out of operation since the strike started, and that the ten rigs will be out of operation during the week. Then you will have more than 1,700 employees will be laid off.

the Strike comes at the worst possible time in an already demanding market with low rates and many rigs in circulation, says executive vice president Pål Tangen in Rederiforbundet.

He says riggselskapene is not a party to the conflict, but that they suffer considerably as innocent third parties.

This can have long-term consequences for the riggnæring, both for companies and employees. We add to the reason that the parties have this responsibility conscious, ” says Tangen.

Disguised industrial action

head of division Ommund above it are the components in the Industries of Energy, which organizes employees in the oil and gas industry, is not happy with the situation. He believes the other party of the Norwegian oil and gas uses permitteringer as industrial action, writes Stavanger Aftenblad.

Our opinion is that more than necessary is laid off, and that permitteringer now used as a poorly veiled industrial action. It had been neater with a lockout. Many apprentices laid off, says above it are the components.

the Norwegian oil and gas answer that if the union believes there is something wrong with permitteringsuttaket, they should take it up with the management of the individual business. The refutes that apprentices are affected.

Neither Baker Hughes, Halliburton, Schlumberger, Oceaneering, or Oceaneering Asset Integrity has laid off apprentices as a result of the strike, says managing director Øyvind Knoph Askeland in the Norwegian oil and gas to the NTB.

– great pity

Over 300 oljeserviceansatte are taken out in strike after that there was a breach in the arbitration on the night of Wednesday in the previous week.

the Norwegian oil and gas, which represents 49 oil and gas companies and 59 supplier companies on the Norwegian continental shelf, believes the strike is unnecessary and has discussed the requirements of the union as the “unreasonable high”. They point out that they offered the opposing party members on the oljeserviceavtalen an increase in her salary at the level of the frontfaget.

the company has already economically challenging. We think it is very regrettable that the businesses and employees end up in a situation that jobs be put at risk, said forhandlingsleder Jan Hodneland Wednesday.

Earlier in the year, it was agreed sokkeloppgjøret and brønnserviceavtalen.

The two stocks went bananas on the stock exchange on Friday – Hegnar Online

the Oslo stock Exchange was down up to 1.4 per cent in åpningshandelen, but in the course of Friday most of the descent is obtained. The main index ended down a modest 0.1 per cent to 622,69.

the Turnover was nok 4.3 billion.

oil prices toward 50 dollars

oil prices fell earlier in the day as investors took profit after a couple of days with a marked upturn. The price has risen in the wake of that OPEC members will agree on a need to cut oil production by 240-740.000 barrels 32,5-33,0 million barrels per day.

Friday afternoon rises, however, the price. Brent oil is up 0.3 per cent to 49,96 dollars a barrel, while the american WTI-oil is up 0.4 per cent to 48,01 dollars a barrel.

Statoil ended down 0.1 per cent to 133,90 money.

Seadrill down again

Seadrill, which sprang up 33 per cent yesterday, is distinguished negatively by correcting the down 5.8 per cent to 19,32 million.

Laksefest

The rough is put behind us, load up with salmon, writes Swedbank-analyst Marius Farm in an update Friday.

Swedbank has revised upwards prisestimatet for 2017-18, respectively from 55 to 61,5 million and from 54 to 61,5 million.

Our top picks are Marine Harvest, but we also like good companies with high exposure to the spot price or the North of Norway, as Norway Royal Salmon or Grieg Seafood. Also Lerøy Seafood looks very cheap with a P/E of 7x, commenting on the Farm

Marine Harvest rose 2.3 per cent, while Salmar and Bakkafrost ended up five-six per cent.

We do note that It by Trygve Hegnar owns four million shares, equivalent to an ownership interest of 0.9 per cent, in Marine Harvest.

the Pareto doubles kursmålet

Questerre popping up 29,0% to 1,69 million after Pareto has doubled kursmålet from 1,50 to 3,00 million.

Of the companies we cover is Questerre probably the one that will benefit most from the collection of the oil prices, writes the investment firm in an analysis Obi.en has been given access to.

Even a børsrakett

Biotech-the company Serodus wrote in the report for 2. quarter that it would evaluate the finansieringsmodellen, as well as look at the listing.

Friday, it became known that the company expects that the largest shareholder will come with a bid on the company with the goal of avnotering from Oslo Axess.

the Stock rose throughout 33,9 per cent to 146 million.

DNB downgraded

DNB shares fell 1.9 per cent to 104,70 money in heavy trade; 600 million.

the Background of the downturn is that Nordea Markets downgrade their recommendation on the stock from hold to sell. Kursmålet be cut from 100 to 93 million, reports TDN Finans.

Gjelsten sell kjempepost

Bjørn Rune Gjelstens Gjelsten Holding AS, Kid Asa’s largest shareholder, is selling five million shares in the company to a price of 29,50 nok.

Gjelsten releases thus 147,5 million.

the Kid-the stock ended unchanged at 29 million.

Songa Offshore

Three of the Songa Offshore rigs are put out of the game due to the strike on the Norwegian continental shelf. The stock was punished with a kursfall of 4.8 percent to 20 cents.

Havyard

Havyard Ship Technology AS take a step in the green direction with the new contract for the conversion of two ferries from conventional to hybrid operation.

the Stock rose 7.8 per cent to 9,50 dollars.

Oljeleverandør opt for insolvency – about 90 loses their job – E24

(E24) Published: 21:13 – 30.09.2016, Updated: 21:23 – 30.09.2016

Owned Marine Services company that supplies technology to the Halsnøy in Kvinnherad municipality in Hordaland, opt array.

This writes the newspaper kvinnheringen (Norwegian).

In a letter to creditors sent out on Friday afternoon disclosed that the company does not have any other choice than to go to the probate court on Monday.

a Total of 90 people will lose their jobs in the recent bankruptcy, which 55 in Kvinnherad.

– It is a dark day for the whole community in Kvinnherad. It is a dramatic situation, and I think of all who are without work, and their families, which goes into a time of great uncertainty. I also think the family Owned, who have been forced to take this difficult decision, and it makes the big impression, ” says mayor Peder Sjo Slettebø to the local newspaper.

Took krisegrep

It is clear that the company has had problems with difficult market conditions in the wake of the so-called “oljebremsen”. E24 talked about earlier in the summer that 15 employees were fired, after a previous round with permitteringer.

Managing director Ove Røssland informed that the reasons were for the low activity.

the Company had in the year 2015 a tough year, with a fall in turnover to 167 from 465,5 million and a negative net profit of nok 90 million.

Eide Marine Service assists the industry with the fabrication, trade and shipping, and performs services in the field of towing and rescue operations, wreck removal, tungvektsoperasjoner, logistics and management.

the Company started in 1980 with the building special vessels for the oil service industry, in addition to providing maintenance and modification of drilling rigs, according to the company.

Affected by oljebremsen

Earlier on Friday came the fresh ledighetstall from the NAV that showed that Michigan is one of four counties that have higher unemployment now than a year ago.

the Increase is largest in Møre and Romsdal, followed by Hordaland, Rogaland and Vestfold.

“California (26 percent) had the largest increase in bruttoledigheten the last year. Then follow the counties of Møre and Romsdal (22 percent) and California (21 percent). Common to these counties is that oil-related industries make up a relatively large share of employment, and has been hit hard by the decline in petroleum investment,” writes the NAV in the current report.

Deutsche Bank shares rise on notice about the settlement – E24

(E24) Published: 17:30 – 30.09.2016, Updated: 18:05 – 30.09.2016

Deutsche Bank is nearing a settlement with the u.s. government, at 5.4 billion dollars, informs a source of the prestigious news agency AFP.

if so, This will be a significantly lower sum than the original claim of 14 billion dollars, but is more in line with other fines related to the banks ‘ boliglånspraksis before the financial crisis.

the Messages if the original requirement has given great concern about the situation in the Deutsche Bank, which has infected the global financial sector.

Deutsche Bank share price rises significantly in the message, and is writing this up over 14 per cent in New York.

Several international media writes that Deutsche does not want to comment on the new information.

Unrest

It is now two weeks since it became known that the united STATES demanded 14 billion dollars by the Deutsche Bank. Three years before the financial crisis to storbanken have stated that boliglånsrelaterte products they sold meant little risk, which proved to not vote in the most dramatic fashion.

The current financial products consisted of bad mortgages, which were packaged together in so-called credit derivatives.

This is a practice Deutsche was not alone. The fine that was outlined in the German case, however, was higher than settlements entered into by, for example, Goldman Sachs (5,06 billion dollars) and Citigroup (7 billion dollars) in the same proceedings.

the Size of the requirement created concern about Deutsche Bank’s financial position and fear that storbanken would have to retrieve the billions in krisekapital. The bank’s provisions for such purposes must have been around four billion dollars.

Attempted to reassure the

Due to its central, integrated position in the financial markets has Deutsche-problems sent waves into the global financial sector. In yesterday’s trading, weighed it finansaksjene on Wall Street after the messages about incipient kundeflukt.

Deutsche-problems may also have been a contributing cause to the current kursfall in the DNB (which in addition was downgraded by Nordea).

chief executive officer John Cryan in the Deutsche Bank was recently out, and in an unconventional manoeuvre, he emphasized through the brevs form the bank’s solvency.

– You will have seen speculation in the media that a couple of our hedgefondklienter has reduced its activity with us. This leads to unfounded concerns. We need to look at this in the bigger picture: That the Deutsche Bank has over 20 million customers, wrote Cryan, and listed further up the arguments for that bnaken is solid.

Nordea increases boliglånsrenten – Dagens Næringsliv

Bank

interest rates on the mortgage loan be increased by up to 0.20 percentage points, as a result of more expensive borrowing.

Published: 30.09.2016 — 12:02 Updated: 30.09.2016 — 14:37

the Article is added to your reading list.

The recent increased levels in the money market makes that Nordea now adjust the level on interest rates for some customer groups, according to a message Friday.

interest rates on the mortgage loan be increased by up to 0.20 percentage points, while more and more customers get interest rates remain unchanged.

the Development in the money market governs our pricing, and the last time the price of money has risen. The alignment varies from that you don’t get any changes in the interest rate to that you get a increase. But we see that we are still competitive on price, ” said John London, director of banking operations in Nordea Norway.

Best retail list price on boliglånsrente is 2.09 per cent, to be disclosed.

at the same time increased the interest rate on deposits.

Boligsparing for young people (BSU) have an interest rate of 3,20%, while the interest rate on Boligsparekonto also raised to 3,20%. Also, the fixed rate on the deposit increases to 1.50 percent for the binding in one year, says Nordea.

- It is important for us as a bank to encourage savings, especially for domestic purposes in times where we see that prices in the housing market has risen a lot, ” says Sætre.

the New interest rates for deposits and existing loan apply from 16. november 2016. For new loans for new interest rates from Friday, 30. september.

Growth money market

money market rates form the basis for a number of loans in the Uk. The yields on many bonds and banks ‘ loans to businesses and households is set based on money market rates.

It is precisely these interest rates out to the public, Norges Bank tries to influence by making changes in the base rate. The past year has, however, the key policy rate and the main referanserenten in the money market, tremånedersrenten, separated the layers.

despite two interest rate cuts have the money market rate hardly fell. And the last time the in addition begun to rise (see graph).

(click on graph for larger version)

While the difference between the key rate and the threemonth money market rate last year was about 0.25 percentage points is the today of around 0,65 percentage points.

the Recovery in the Norwegian pengemarkeder can be due to conditions outside the country’s borders. In October will be conducted a pengemarkedsreform in the united STATES, which already has led to an increase in interest rates, the money market for dollars. Since there is a separate Norwegian kronemarked, visit the loans in the Norwegian money market through the dollar. Therefore, dollarrenter of direct relevance to the interest in kronemarkedet.

Norges Bank points out that the premium in dollarrenten have turned into Norwegian money market rates. At the same time believe the bank that the new likviditetskrav to the banks, both in the Noge and internationally may have reinforced the effect of the new regulations in the money market in the united STATES.

“There is reason to believe that the premium in dollarrenten will slow down somewhat after the new regulations for us money market funds to take effect in mid-October,” writes the central bank in the monetary policy report which was laid out in the previous week.

“Both likviditetskrav to the banks and the new regulation of money market funds in the united STATES suggests, however, that the premium in Nibor can remain higher in the longer term than previously assumed. Therefore, we have revised upwards the long-term premium in three-month Nibor from the additional 0.30 percentage point to 0,40 percentage points,” writes the central bank in the report.

Help us to give an overview of banks ‘ rentepraksis

Join us on your interest rate, especially if you get the message about the rate increase:

Listen DN-the podcast that the money is free: the level of interest rates is abnormally low, and economists have no filla no idea why. The DNs utgavesjef Terje Erikstad and makrojournalist Einar the Norwegian university discusses with the finansjournalist Marte Ramuz Eriksen what to get Øystein Olsen and other sentralbanksjefer in zen.

Deutsche Bank falls sharply on the stock exchange – “

Many european bankaksjer fall after that hard-pressed Deutsche Bank plunged over 9 per cent Friday morning. Photo: Richard Drew (AP / NTB scanpix)

Many european bankaksjer fall after that hard-pressed Deutsche Bank plunged over 9 per cent Friday morning.

Published:

NTB

News from bilmessen in Paris: Opel with strømsjokk – VG

PARIS (VG) While several car manufacturers are showing electric cars for the future, Opel is already his electric langdistanserakett ready. Soon, you can almost run just as far on a charge as on a fuel tank.

If it doesn’t just have “500 miles left to run”, so have opel’s brand new compact electric vehicle Ampera-e 500 kilometers left to run when it is fully charged.

Opel sent shock waves to the competitors and the joyful news to potential elbilkjøpere at the Paris trade fair on Thursday, when they announced that the electric vehicle not only to be able to go the 40 miles that are communicated, but also much longer.

- Exact numbers will come when the type-approval is ready, but there is no doubt that the typegodkjente the range will be at least 500 kilometres. It means that you in the big degree release rekkeviddeangsten. It is approaching the way we use a normal car on, say, the PR-manager of Opel, Stein Pettersen.

Opel Ampera-e come to Norway late in the springtime. It is as big as a VW Golf, very good interior space, also in the back seat. But some full påskebagasje for four it probably won’t fit in the trunk. However, it is as normal a kompaktbil because the batteries located under the floor. The interior is tastefully, and of Opel-the quality we know from the new Astra. Several hundred customers have already signed the contract or shown their interest, before price and performance was ready. The price will probably be well below 300,000, respectively.

see also: Volvo is recalling nearly 2500 cars in Norway

Less speed

the motor show in Paris, which opened to the press today, and for the audience this coming Saturday, marks a small crossroads for the automotive industry.

It is much less bling and bragging of fartsressurser. “All” the fairs of the internet in the car and tomorrow’s mobility. New times is also reflected in that several manufacturers have signed “due date”, Volvo, Mazda, Ford, Bentley, Lamborghini and Rolls Royce.

The big snakkisen and the trend is electric cars (and some rechargeable hybrids). The largest automakers launch electric storsatsninger on an ongoing assembly line.

Can run 60 miles

With the dense grille, aerodynamic wheels and headlights to communicate that expressive eyes, rolls Volkswagen started its new storsatsning. Electrical car called the I. D. is the precursor to a helelektrisk production vehicle in the Golf class that will be on sale before 2020. And it for the same price as a VW diesel (and certainly cheaper in Norway, if we keep avgiftsfordelene for electric cars by 2017).

Konseptbilen has a range of 40-60 miles, and a generously luggage.

VW has set in motion a helelektrisk campaign. It launches 30 new electric models from the group (including Skoda and Audi) on a new and spesialskrudd platform. All cars should be named “something with” I. D., which is a kind of paraplynavn.

It was dieselskandalen who set up in elbilprosjektet, and now it will Volkswagen become the best of the electric cars.

– We shall have a ownership of electric cars, and they have to be cars people can afford. There shall be a new elbilkonsept on every bilmesse, ” says public affairs manager for Volkswagen in Norway, Anita Svanes.

It also comes more rechargeable hybrids. The technology will live side by side with elbilene, ” says Svanes.

Read more and see photos of the 25 Norgesklare news (subscription)

a record low Toyota-consumption

In march, the second-generation Toyota Prius Plug-In Hybrid. Also it sends a “slight shock” through the competition: Ladbar Prius will receive a type approval fuel consumption of 0.1 litre of mila and an electric range of 63 kilometers.

- It is optimal, we say that the car can run electrically for over 50 miles. But it makes the heat pump so that the car does not lose as much range when it is cold, and elmotoren to work down to minus 20, ” says manager Espen Olsen.

Mercedes with new undermerke

Also Mercedes surprised today to launch a new high-voltage power line.

Konseptbilen Generation EQ, a compact SUV, with an electric motor on each axle, a reach of up to 50 mil and a acc from 0 to 100 km/h in under 5 seconds, no one notified the arrival date. At the Paris trade fair is the for the occasion drawn in blue neongrill. Probably it is not so far away from production, but Mercedes does not say anything.

What they will say, is that it comes a whole elbilfamilie in EQs ruts.

– It is developed a completely own platform for electric vehicles, and there will be more. Mercedes will bi leading on electric vehicles by 2025, says Mercedes boss Kjetil Myhre.

Positive signals

communications advisor Ståle High in Elbilforeningen have taken the electrical news in closer øyensyn.

Response to the Opel Ampera-e seems to be very good, and there is also good news when Renault comes with the bigger battery in the Zoe, so you get the max range 40 miles. It provides probably stable ranges of over 30 miles. There is no doubt that bilkjøperne demand ranges above the current level, ” says High.

PS! The two biggest news for car buyers who need a lot of space behind it is a SUV-one of the Peugeot 5008 which has a formidable 780 litres of luggage space and the Skoda Kodiaq, with 720 litres. The smallest news must be Norway’s probably the smallest and cheapest SUV, which comes in December: Suzuki Ignis has all-wheel drive, 204 litres of storage capacity and a price of just over 200,000 euro.

See alphabetical overview of all of Paris-the news of the BilNorge.en

New the Deutsche Bank case for messages about the customer-exit – E24

(E24) Published: 20:01 – 29.09.2016, Updated: 20:12 – 29.09.2016

After a somewhat encouraging development through the trading day in Europe, have left Deutsche Bank shareholders received due to the hard time.

Bankaksjen is also listed in New York. Here falls the new 8,57 per cent in today’s trade, and seems to drag with itself the entire financial sector.

After a relatively flat start, the S&P 500 index now down to 1,17 per cent.

hedge fund withdraw

the Downturn seems to be driven by the messages that some of Deutsche Bank’s customers have gotten cold feet and pull out their money of the pressed the financial institution.

Documents Bloomberg has gained access to shows that approximately ten hedge funds have reduced their exposure. These have availed themselves of the so-called clearing services for the derivatives in the bank’s investment banks.

In brief has this business gone out that Deutsche against the commission has served as mellomaktør in various transactions and issues of various derivative products.

DNB is worth more than Deutsche Bank

the Deutsche Bank has according to the news over 200 customers of this type. Millennium Partners, Capula Investment Management and Rokos Capital Management shall be among those who say goodbye, informs a source.

Chairs on the customers

Deutsche Bank has commented on the information in an e-mail to Bloomberg:

“Our handelskunder is among the world’s most sophisticated investors,” writes a spokesperson for the bank, Michael Golden.

“We are confident that the large majority of them have a full understanding of our stable financial position, the current macroeconomic situation, the legal process in the united STATES and the progress we have to stake out our strategy”.

None of the above-mentioned funds have so far commented on the case.

Lose confidence

analysis supervisor Karl-Johan Molnes in the Norne believe the situation in the Deutsche Bank has similarities with what happened in the Bear Sterns, the bank that got in trouble at the start of the financial crisis.

– the Customers leave the bank and it is never good when they get a sharp fall. When they lose confidence and lose other customers – no one will be left with the repository of his in a bank that goes bankrupt, ” says Molnes.

He emphasizes, however, that he believes it will go well with Deutsche Bank.

Optimally seen, he believes that Deutsche could be found together with either of the Commerzbank on the home, or Wells Fargo globally. These, however, have their own problems for the moment.

9.600 must go in Germany’s second largest bank

– A way to get out of this is to get new capital, but an even easier way is warranty, he says.

With this aim he to the German authorities, by Angela Merkel and finance minister Wolfgang Schäuble.

This is going to resolve itself. There is no spread, because you are very good at solving this type of problems. I think Deutsche will get the help of the German government in the morning or in the course of the weekend, ” says Molnes.

Have nødplan?

The last round of problems for the Deutsche Bank started when it was known that the bank is required for the entire 14 billion dollars by the u.s. government in the wake of the financial crisis.

Since were concerns exacerbated by the fact that the German authorities were not ready with some helping hand.

Messages in the wake of the latter, however, indicates that a “nødplan” may be in the works. Yesterday wrote Die Zeit that the German government should be prepared to take 25 per cent of the storbanken in a “worst case scenario”.

Red in the Burnt after the rally – Hegnar Online

the main index ended the day at 623,08 Thursday, after an increase of 2,24%.

Shares and primary capital certificates were traded for 4.274 million.

Wall Street opened slightly down, in the wake of the joyful jobbtall, GDP growth met expectations, and a smaller trade deficit than expected.

A half hour after opening got investors on the other hand served the disappointing numbers for boligsalget.

Leading European stock exchanges drew for the most part also up.

British FTSE 100 ended up one percent, the French CAC 40 and 0.3 per cent, while the German DAX fell 0.3 per cent.

Red in the Burned after rally

The good mood intertwined with the powerful oljeprisoppgangen triggered by OPEC signals yesterday evening. OPEC members should agree about a need to cut oil production by 240.000-740.000 barrels per day, it will say to 32,5-33,0 million barrels per day.

the Signals sent oil prices straight up, and Brent november oil was up in 49,50 dollar at the highest in yesterday’s trading.

Frontkontrakten correct albeit down 0.2 per cent to 48,59 dollars a barrel in today’s trading, but is less than one dollar above the levels at the close in Oslo yesterday.

WTI oil was up in 47,43 per barrel at the highest yesterday, and in today’s trading up 0.1 per cent to 47,12 per barrel.

- OPEC playing dangerous

But the uncertainty is still large. How the cut is allocated, shall not be decided before the OPECs next meeting 30. november.

According to Saudi Arabia’s oil minister shall not Nigeria, Iran and Libya are the subject of the cuts, as long as they keep production at a “meaningful level”. (…) As we know from earlier, similar to this a lot of the problems with the financing of fellesgoder. All have the interest that it be cut, but for the individual, it is of course best to produce the most possible, write DNB Markets in a comment.

- If some land should be protected, other countries take more. The incentive to cheat when he refused the first is established, is also strong. With some other words: We believe it when we see it, they add to.

analysis supervisor for raw materials in the SEB, Bjarne Schieldrop, believe OPEC is playing a dangerous condition.

” We believe OPEC is playing a dangerous game if the goal is to push oil prices higher in the short term, since it will only initiate more skiferoljeproduksjon in the united STATES. It will make it difficult for OPEC to place the potentially-cut volumes back in the market at a later date, he writes in an update.

Schieldrop believes OPEC still have a headache: what to do if the volumes from Libya and Nigeria take up again?

- Who should cut their production to make space for them? What looks clear to us, is that it does not become plankekjøring from OPEC from here, even though they have now managed to achieve an internal agreement, enter analysesjefen.

Hefty Statoil-rise

no Matter: the increase in oil prices had a very positive influence on the Oslo stock Exchange.

Statoil rose by around 6.9% (8,70 million) to 134 million. Oljekjempens market value is the most out with over 28 billion, and total market value is now up to around 430 billion.

Further advanced The Norwegian 5.5 per cent to 120 million, while DNO la on 5,7%, to 8,18 money. TDN Finans show Thursday afternoon to a message from Gulf Keystone, which says that a judge in London has approved the agreement on the restructuring of the debt of the company.

the Bondholders in Gulf Keystone will, according to the Bloomberg own 85,5 per cent after the restructuring.

At the end of July let DNO place a bid on all new share capital in Gulf Keystone for 300 million dollars, after the latter’s refinancing. Then the chairman of the board Bijan Mossavar-Rahmani said in mid-august that the company was hoping for a response from the shareholders and bondholders in the first half of september.

Seadrill, which rose 20 percent in the U.S. yesterday, popping up around 32,9% to 20,50 money.

PGS excelled with an increase of 10.6 per cent of 17,58 million, while Songa Offshore also rose double-digit – 10.5 percent to 21 cents.

Subsea 7 climbed 4.8 per cent to 85,55 money on the day where it hung Statoil-praise for the Aasta Hansteen job. Aker Solutions and TGS ended up respectively. 5.5% to 37,88 million and 5.4 percent to 146,60 money.

Among the heavyweights, incidentally, we highlight the us REC Silicon on the plus 10.9 per cent to 1.05 million.

DNB step 3.3 percent to 106,70 money. The banking sector stood out positively in the united STATES yesterday at the reduced uncertainty around the Deutsche Bank, after the sale of an insurance business and the release of 1.2 billion dollars.

On the negative side fell Reciprocal 0.6 per cent to 148,10 money after Nordea according to TDN Finans downgraded the stock from buy to hold, while Salmar, Hydro, Yara and the Norwegian ended the day down less than one percent.

Sol both up and down

Relatively speaking, mixed Navamedic into among oljeservicevinnerne with an increase of 10.3 per cent to 13,45 million.

We take with Avance Gas on the plus 9.9 percent to 20 million, while it has not yet restructured supplyrederiet Havilah Shipping rose 9.0 per cent to 1,69 million.

Scatec Solar went up 4.4 per cent to 30,60 money on a Nordea-analysis.

Q-Free has implemented a directed share issue that was overtegnet several times. The stock rose 6.5 per cent to 8,06 million. Wednesday’s message that the company is close to a deal in the united STATES came in grevens time.

Taperlisten topped by Kitron, which fell 10.6 percent to 5,50 money after storeier folded and cashed in on the stock still is up over 110 per cent in the last 12 months.

the Sale of the kjempeposten brought the turnover in the stock up in 311 million. Only Statoil, DNB and Marine Harvest were more traded.

Closest to the Kitron followed EAM Solar at minus 8.2 per cent to 34,80 money and Emas Offshore, which went back of 6.9 per cent to 54 cents.

We also take with Link Mobility Group, which fell 2.5 per cent to 159 million after having carried out a targeted and significant overtegnet share issue of nok 100 million (of course 150 million).

Warn about the housing bubble – Today’s Business

Property

Wang Jianlin has built up China’s largest real estate companies. Now he warns that the chinese eiendomssektoren is the biggest bubble in history.

Published: 29.09.2016 — 18:55

the Article is added to your reading list.

Wang Jianlin compete with Alibabas founder Jack Ma to be on the top of the list of China’s richest – both with a net worth in excess of $ 30 billion. Wang Jianlin is a very outspoken, and have set their hearts on Hollywood and crush Disney in China.

The last 20 years, Wang Jianlin built Dalian Wanda Group to become China’s largest eiendomskonsern. It began with shopping before this was extended to cinemas and hotels. The last few years have efforts been shifted towards lifestyle and entertainment.

the Goal is to become the world’s largest livsstilselskap – a position that Disney has now with filmstudioer, tv channels, theme parks and cruise ships. Dalian Wanda will shortly open the world’s largest and most modern studio in China. They owns the world’s largest kinokjede.

most of these surpluses still comes from eiendomssektoren – mainly shopping centres. Chief Wang Jianlin comes with warnings in a new interview.

– Eiendomssektoren is the biggest bubble in history, ” he says to CNN.

Great hidden loans

property prices increase again in the 70 largest cities, after having fallen last year. In Shanghai, Shenzhen and Beijing increased the prices by between 20 and 40 per cent in august compared with last year.

– I see no good solution to this problem. The government has tried to come up with all possible measures, including to restrict the supply of loans, but it has not worked, ” he says.

The chinese banking sector is nedsyltet in hidden non-performing loans, among other things, granted to real estate developers and home buyers. Kredittvurderingsselskapet Fitch writes in a new report that non-performing loans can be 10 times higher than the official estimates – up to 21 per cent of total lending.

The international monetary fund (IMF) warned that a “disorderly gjeldsnedbygging” in the chinese economy may lead to the infection of the world’s economy. The IMF does not exclude a hard economic landing for the chinese economy.

the Problem is that the chinese economy has not reached bottom. If there is a rapid reduction of debt, will the economy suffer more. We have to wait until the economy is back on track before it gradually made a gjeldsreduksjon, ” says Wang Jianlin.

Capital Economics estimate that it is provided around 30000 billion in direct loans to the chinese eiendomssektoren.

Although we often underestimate the government’s ability to rescue the banking sector does not mean that we should ignore the credit risk. Chinese households is not so gjeldsbelastede. We are more concerned about the companies ‘debt burden,” says analyseselskapets China economist Julian Evans-Pritchard of the BBC.

double-checked the price

In the largest chinese cities, there is still high demand for housing. Other locations are entire housing developments empty as ghost towns.

last week, it was sold “flats” in between the 5.7 and 7.5 square meters in Shenzhen for over a million dollars apiece, according to Guangzhou Daily.

Toilet and kitchen are next to each other. This provides a kvadratmeterpris on 170.000 million.

An analysis from the analyseselskapet Longview Economics draws parallels to tulipankrakket in the Netherlands in the 1630′s, where prices reached extraordinary heights before they fell. At the most, there was some tulipanløker sold for the tidobbelte of an annual salary to skilled workers.

The price of oil passed the 49 per barrel – ABC News

Through the night increased the price of oil with 6 per cent. At 2-the time it reached the price of nordsjøolje 49,05 dollars a barrel. The price fell Thursday morning to 47,99 per barrel. However, it is still far above the roughly 46 dollars it was in advance of the meeting Wednesday.

For american light oil was the development equivalent, with a peak of 47,40 per barrel. Rising oil prices also helped to lift energiaksjer, and thus also leading stock exchanges.

November meeting

OPECs oljekutt is estimated to be between 240.000 and 740.000 barrels daily. The OPEC countries ‘ total oil production to be between 32.5 million and 33 million barrels per day. Details about how big the cuts to each member state to take, is clear on the OPEC meeting in Vienna 30. november.

Saudi Arabia’s oil minister Khalid al-Falih says that production in Iran, Libya, and Nigeria should not be covered, as long as these countries keep the production on a “meaningful level”.

see also: if you need to cut 300 employees

More reasons

the Cause of the OPEC agreement is composed, the mean oljeanalytiker Thina Margrethe Saltvedt, Nordea Markets.

– first, Iran has already increased his production much until now in the year after the sanctions against the country were removed, so the country is now closer to its production target of 4 million barrels per day. For the other has the oil price been lying lower for longer as a result of that the demand for oil in the great oljekonsumerende countries like China and India have begun to show svakhetstegn, ” says Saltvedt to the NTB.

Still flooding it out with the oil from oil producers outside OPEC, such as Russia, where it has reached a record high level of production, as well as Canada and Norway, so that the process to get the market in balance and to get up the oil prices have taken much longer than expected, she says.

– third, there is now someone new who sits at the helm and manages the oljestrategien in Saudi Arabia, and this may also have had an effect, ” says Saltvedt.

see also: Helrød Monday on the Oslo stock Exchange

Iran

Iran has increased the production much, with the green light from OPEC because Iran for many years has been subject to sanctions and the need to rebuild the economy. The decision on a unified OPEC cuts now is therefore not alone an attempt to slow down Iran, believes Saltvedt.

The main goal now is to speed up the process of getting the market in balance and thus get oil prices up. There is little doubt that the oil price has fallen far more than what Saudi Arabia had expected, that non-OPEC producers, especially skiferprodusenter, has been more resistant to lower oil prices in the short term than what OPEC expected and that prices have been lying lower longer than expected, ” says Saltvedt.

shale oil

the Production of american shale oil in the last year have dropped significantly.

Higher oil prices will lure skiferprodusenter pretty fast back to the market, especially if oil prices stabilize at over 60 dollars a barrel, think she is.

It will again lead to considerably increased american skiferproduksjon, which in turn will put a lid on oljeprisoppgangen in the medium term, ” explains oljeanalytikeren.

“I think OPEC has realized that they have lost some of the control on the oil market because of the flexible skiferproduksjonen,” says Saltvedt.

see also: Over 300 oljeserviceansatte be taken out in the strike

The price of oil passed the 49 per barrel – Aftenbladet.en

The unexpected OPEC decision Wednesday to cut oljekartellets production of 750.000 barrels led quickly to the price of american light oil and nordsjøolje rose sharply.

oil prices rise after notification of the OPEC agreement

Through the night increased the price of oil with 6 per cent. At 2-the time it reached the price of nordsjøolje the highest level after the announcement, with the 49,05 dollars a barrel.

the Price dropped then and was on Thursday morning down at 47,99 per barrel. However, it is still far above the roughly 46 dollars it was ahead of OPECs meeting Wednesday.

a Great deal of uncertainty about the price of oil

For american light oil was the development equivalent, with a peak of 47,40 dollars a barrel on the night of Thursday, and then a decline to 46,60 per barrel in the morning.

here is How it works Opec on the world

Rising oil prices also helped to lift energiaksjene on the world market, and thus also the leading stock exchanges. In Oslo, the increase of 1.7 per cent.

the stock Exchanges in London and Frankfurt rose both 1 per cent, in Paris, there was an increase of 1.3 per cent. The Nikkei index in Tokyo rose 1.4 per cent. The Hang Seng index in hong Kong rose 0.5 percent and Shanghai was the increase of 0.4 per cent.

Seadrill shares in the weather after Opec decision – Dagens Næringsliv

Oslo stock Exchange

Oljeprisoppgang and claims about the produksjonskutt sent Oslo Børs for a solid upswing on Thursday.

Published: 29.09.2016 — 16:39 Updated: 29.09.2016 — 17:03

the Article is added to your reading list.

the rig company Seadrill rose a total of 32,94 per cent on the Oslo stock Exchange on Thursday after oljekartellet Opec agreed to cut in the overall production.

The crisis-hit company has thus climbed to a total of 18 per cent in the last week, and is down 58,59 per cent in the last twelve months.

Recently there was held the general meeting for more John Fredriksen-controlled companies in Bermuda. Where was it decided that the Fredriksens daughter, Kathrine Fredriksen (33), goes out of the board of directors of Seadrill.

Read more: Out of the Seadrill board

oil service company Petroleum Geo-Services climbed 10,64 per cent.

Oil company Statoil and DNO could also benefit from Opecs agreement on the cuts and the rise in oil prices. The shares ended up, respectively, 6,94 per cent and 5,68 per cent.

the Price for a barrel nordsjøolje with delivery about a month climbed close to six per cent on Wednesday. On Thursday, however, fell back.

at the time Of writing traded it for 48,59 dollars a barrel.

(the Case continues below)

Utvklingen for Seadrill’s shares on Thursday. Graphics: InFront

a Lot of uncertainty

analysis supervisor for commodities at SEB, Bjarne Schieldrop, said that the new Opec agreement after all judging will lead to a faster rebalancing of the oil market.

analysis supervisor for raw materials Bjarne Schieldrop at SEB. Photo: Dagens Næringsliv

He emphasizes at the same time that there is a lot of uncertainty, since the final agreement, the first will be presented at the next Opec meeting 30. november.

There are, among others, a risk that increased oil prices leads to skiferproduksjonen in the united STATES rises so much that it offset priseffekten. Opec plays a game of chance here, he says to TDN Finans.

He believes Opecs primary purpose of the produksjonsavtalen was to avoid that the oil price falls below 45 dollars a barrel, rather than to raise prices.

- If one looks at the recent reports from the IEA, EIA and Opec itself, so estimate all of the a oil production of 8.5 million barrels from the united STATES in 2017. It will say that the market needs 33 million barrels from Opec to go in the balance sheet. A further over-production, when the warehouses already are full, as now, could lead to a severe fall in prices in 2017. I think it is that Opec has tried to avoid, ” says Schieldrop.

Before the agreement was known, waited SEB a snittpris 55 per barrel for 2017 and 60 per barrel for 2018. They are expecting a relatively weak rate in the first half of 2017 and then an acceleration after that.

We must see whether we need to revise the projections slightly as a result of the Opec agreement. At the same time, we raise oljeprisprognosene, we must also raise the estimates for how much the united STATES will produce, he says.

the main index on the Oslo stock Exchange rose by 2,24 per cent on Thursday to 623,08 points.

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Offer 150.000 home solar cells

Get 800.000 in bot to have the lid with the sales

See the DNtv:

NSB persontog cuts 300 employees”

Promotion with annonselenker

NSB persontog have to cut around 300 employees within leadership and administration, report NSB.

NSB must go through a demanding restructuring in order to adapt the NSB to the new role and provide the company’s competitiveness to win the tender, ” says ceo Geir Isaksen in NSB in a press release.

the Process aimed at the nedbemanningen will come by December, 2018.

the Norwegian Jernbaneforbund and Jane B. Sæthre says to VG that they expect that nedbemanningen happens through voluntary redundancy.

the Process will be carried out in collaboration with employee organisations, assures the NSB.

As a result of jernbanereformen notified it that several businesses that today are owned by the NSB-group get new owners. ROOMS Property, togvedlikeholdsselskapet Mantena, as well as business-related to become attached to rolling stock, and sales and billettløsninger is separated from the NSB-group in 2017. At the same time being persontogvirksomheten in NSB gradually become competitive.

Downsizing is one of several measures we must take to ensure that we are in a position where we can win the competitions for the trafikkpakkene arriving on the railway, ” says the ceo.

Similar to the ” here and get more fresh news and fresh opinions!

Børsrally in Oslo – Seadrill and Statoil straight up – Hegnar Online

the Oslo stock Exchange rises, as expected powerful from the start in the wake of the sharp price increase of oil. After 29 minutes the trade is the main index up 1.7 per cent to 619,94, after snust on 622 points right after the opening.

Oljeprishopp on OPEC signals

on Wednesday evening, it became known that OPEC members will agree that it is necessary to cut oil production by around 750.000 barrels per day to make up the price of oil. The signals sent oil prices straight up. Now traded Brent oil for 49,11 dollar, down 0.3 per cent. The price is thus, almost two dollars higher than when the stock exchange closed Wednesday.

Statoil is rising all the 5.0 per cent to 131,60 million, while DNO go to 5.6 per cent.

Knallsterke oil service shares

Seadrill, which rose 20 percent in the united STATES on Wednesday night, is up 16.5 per cent to 17,96 million. PGS stands out with an increase of around 10 per cent. The shares of Sevan Drilling, Prosafe, Petrolia, Songa offshore, Archer, TGS and Subsea 7 are all up over a percent.

Issue

Q-Free ASA reports that the private placement that was first reported 23. september is carried out at the rate of 7,50 money. It is equivalent to a discount of 7 cents.

Bruttoprovenyet is on 133,8 million.

the Issue was overtegnet several times.

the Message on Wednesday that the company is close to a deal in the united STATES came in grevens time.

Q-Free rising 1.7 per cent to 7,70 million.

Issue II

Link Mobility Group has reported that the company has completed a directed share issue of nok 100 million of course 150 million. The sale of 616.782 existing shares was also carried out at the same rate.

the Placement was significantly overtegnet.

the Stock is down 3.7 per cent to 157 million.

Throws cards in.

Sievi Capital Pl has today disposed of all of its 57 million shares in Kitron ASA. The post went 5,10 krone per share.

Taiga Fund has today purchased 9.803.921 shares in Kitron ASA. After the purchase owns the Taiga Fund 5,67% of the company.

Kitron is located on the second place on the omsetningsoversikten with 294 million.

the Share price plunging 13 percent to 5,34 million.

Børsrally in Oslo – Seadrill and Statoil straight up – Hegnar Online

the Oslo stock Exchange rises, as expected powerful from the start in the wake of the sharp price increase of oil. After 29 minutes the trade is the main index up 1.7 per cent to 619,94, after snust on 622 points right after the opening.

Oljeprishopp on OPEC signals

on Wednesday evening, it became known that OPEC members will agree that it is necessary to cut oil production by around 750.000 barrels per day to make up the price of oil. The signals sent oil prices straight up. Now traded Brent oil for 49,11 dollar, down 0.3 per cent. The price is thus, almost two dollars higher than when the stock exchange closed Wednesday.

Statoil is rising all the 5.0 per cent to 131,60 million, while DNO go to 5.6 per cent.

Knallsterke oil service shares

Seadrill, which rose 20 percent in the united STATES on Wednesday night, is up 16.5 per cent to 17,96 million. PGS stands out with an increase of around 10 per cent. The shares of Sevan Drilling, Prosafe, Petrolia, Songa offshore, Archer, TGS and Subsea 7 are all up over a percent.

Issue

Q-Free ASA reports that the private placement that was first reported 23. september is carried out at the rate of 7,50 money. It is equivalent to a discount of 7 cents.

Bruttoprovenyet is on 133,8 million.

the Issue was overtegnet several times.

the Message on Wednesday that the company is close to a deal in the united STATES came in grevens time.

Q-Free rising 1.7 per cent to 7,70 million.

Issue II

Link Mobility Group has reported that the company has completed a directed share issue of nok 100 million of course 150 million. The sale of 616.782 existing shares was also carried out at the same rate.

the Placement was significantly overtegnet.

the Stock is down 3.7 per cent to 157 million.

Throws cards in.

Sievi Capital Pl has today disposed of all of its 57 million shares in Kitron ASA. The post went 5,10 krone per share.

Taiga Fund has today purchased 9.803.921 shares in Kitron ASA. After the purchase owns the Taiga Fund 5,67% of the company.

Kitron is located on the second place on the omsetningsoversikten with 294 million.

the Share price plunging 13 percent to 5,34 million.

Skepticism of Opec-cuts – Today’s Business

Asia today

the oil price has strengthened by almost six per cent in the past day after Opec countries agreed on the draft of the produksjonskutt. But experts believe the agreement is unclear and vague. the Goldman Sachs think oil prices will fall in the fourth quarter.

Morten Iversen

Published: 29.09.2016 — 06:16 Updated: 29.09.2016 — 07:19

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Opec surprised by agreeing a deal that will facilitate a produksjonskutt of between 200.000 and 700.000 barrels of oil daily, compared with the average production rate in the month of august.

Negotiation to negotiate

A final agreement will first be released towards the end of the year – after the Opec meeting 30. november.

- This is the negotiations to be able to negotiate, ” says visestyreformann Daniel Yergin at IHS Markit to CNBC.

The annual Opec meeting will take place in two months. First, during this meeting it will be able to come to a formal agreement between Opec countries and other oil-producing countries outside the cartel, including Russia.

I think oil prices will falter, but this gives more support than if they had left the meeting without anything. This will be a process. There was not even an official Opec meeting, but it gives them extra time, ” says Yergin.

There are a few details from the meeting in Algeria, but markedsobservatører think the most important thing is that Saudi Arabia and Iran is willing to negotiate.

“Masallah!”, writes market analyst Angus Nicholson at IG in Melbourne, excited in his morgenoppdatering and uses the Arabic expression of gratitude, praise and joy.

He also calls for details from what the Opec countries have agreed on.

“the Details are currently unclear. Iran says that they don’t have a ceiling on his production. Produksjonskuttet is more modest than some of the ideas that floated around”, he writes.

Saved Opec

According to Reuters will Saudi Arabia be willing to reduce the oil production of 400.000 barrels a day compared with last august. The country has produced around 10.7 million barrels a day in July and august.

- Saudi Arabia does not want to see that oil prices will fall by five dollars. If they had not agreed on anything, it would have been a risk. The market would have swung lower again. This is just as expensive for Saudi Arabia as for any other, ” says Yergin.

This week, the salaries of all public employees in Saudi Arabia cut by 20 per cent.

- It is incredibly important that they have managed so much. Saudi Arabia has really had to give at the table. All credit to the oil minister Khalid al-Falih. He has single-handedly saved the Opecs relevance, ” says the head of råvarestrategi at storbanken RBC, Helima Croft, to CNBC.

Critical to the price of oil

While many oljeanalytikere predicted an oil price of around 60 dollars at the end of the third quarter, the u.s. financial institution Goldman Sachs has long been wary of optimism among some.

the Draft agreement on the produksjonskutt does not change the forecasts.

In a new report maintains Goldman Sachs that the us oljereferanseprisen (wti) will be about 43 dollars a barrel at the end of the year. This is over four dollars lower than what it is on Thursday morning. In 2017 believe Goldman Sachs that the average price will be 53 dollars.

“If the proposed cut is enforced strictly and support around higher oil prices, we expect that this will prove to be self-defeating on mellomland term – with a sharp increase in the borrevirksomheten in the world,” writes Goldman Sachs.

the financial institution writes that the member states of Opec often fail to comply with the signed avtalekvoter – especially when the demand for oil is still high.

If it turns out that Opec manages to control the conduct produksjonskutt between 480.000 and 980.000 barrels a day this will increase oil prices at between seven and 10 dollars, according to Goldman Sachs.

Markets

It is børsoppgang in all of Asia on Thursday morning – led by energy companies.

Upturn in New York – Seadrill rose 20 per cent – Hegnar Online

It was a good day on the stock exchanges in New York on Wednesday.

Preliminary figures from the u.s. government showed that new orders for durable goods in the united STATES ended unchanged in august, while the according to Marketwatch were expected down 1.5 per cent. Excluding transportation, fell, new orders 0.4 per cent, against the expected 0.5 percent.

the Rise in oil prices contributed to the upturn for the sector and increase for Deutsche Bank helped to calm down the financial sector. And all in all improved the sentiment on the stock exchanges.

the Dow Jones rose 0,61 percent to 18.338,77 while the S&P 500 ended up 0,53 percent to 2.171,and 37. The Nasdaq rose 0.25 percent to 5,318,55.

Almost four stocks rose for each that fell on the NYSE, while on Nasdaq was a stock that rose for each that fell.

Oljeindeksen rose 4 per cent and oljeaksjer both topped and dominated, respectively. Chesapeak rose 8.3 per cent and Whiting Petroleum ended up 13.4 percent.

Marathon Oil rose 8 per cent, while ExxonMobil rose 4.4 per cent and Chevron ended the day up 3.2 percent.

Oljeserviceindeksen rose 5.7 percent, led by Transocean up 7 percent, and Seadrill rose by around 19.7 percent to 2,31 dollars.

Only a shares rose more than Seadrill on the NYSE Wednesday – Denbury Resources – which rose 21.3 per cent.

Banks step also reduced the uncertainty around the Deutsche Bank and the rise in the stock on Wednesday, after the sale of an insurance business and the release of 1.2 billion dollars.

On the Nasdaq rose seven of the ten most traded stocks, with Apple up 0.8 per cent to 113,95 dollar and the most traded

Oil prices rise after messages about the Opec-agreement – E24

(E24) Published: 20:31 – 28.09.2016, Updated: 21:27 – 28.09.2016

Several sources says that OPEC should have come to terms on an agreement that will limit the member states ‘ oil production.

According to Reuters the agreement shall mean that Opec production is reduced to 32.5 million barrels per day. The current production is around 33,24 million barrels, and the agreement will thus involve a reduction of around 740.000 barrels.

furthermore, It is expected that the group will draw up more detailed levels for the different countries within the next formal Opec meeting in november. After this also the countries that are not OPEC be contacted.

According to Bloomberg, is this the organization’s first overall cut in eight years.

Surprise

– It is a surprise that they have managed to agree now. Most had believed a consensus in november. What we see in the market, where the price of oil has skyrocketed, ” says oljeanalytiker Thina Saltvedt at Nordea to E24.

Oljeanalytiker Thina Saltvedt, Nordea Markets.

Photo: Vidar Ruud NTB scanpix

Saltvedt points out that, despite the current agreement still is extremely much oil in the market, but that the cuts will contribute to faster pull on the chock-full oljelagre.

She believes further that the agreement may say something about what kind of pressure the Opec countries have been under. Several of the countries ‘ economies are heavily oljedrevne.

No one had probably dreamed that rates would fall as much as they have done, and it has enough drawing down their economies more than they have admitted. Finally, they have also managed to come to an agreement. It will be exciting to see the details in the agreement. What has come so far, a bit less than it perhaps needs to be, but a big step on the way, ” she says.

Oljeprisoppgang

the price of oil rises sharply on today’s news. The spot price of a barrel brentolje is at the time of writing up 4,59 percent to 48,33 dollars, while the us lettoljen rises 4,07 percent to 46,78 dollars per barrel.

Also in the stock market has the news resulted. After a bit daff start of the trading day have Wall Street lifted itself. The Dow Jones is now up 0.44 per cent for the day, and it is oljegiganten Exxon Mobile are leading the way with an increase of 4,42 per cent.

the Case continues below the graph.

the Graph shows the evolution of brentoljeprisen Wednesday night.

Photo: Infront

Two years of low oil prices

Opec peaks have since Monday been collected in Algeria, where the International Energy Forum held this week.

In advance of the conference, there have been a number of leaks that suggest that there was a specific proposal by the Opec countries could come to a consensus about. In broad terms, these should have gone out that Saudi Arabia adjusts down its production to about where it was at the beginning of the year, against that Iran freeze its production at current, or slightly above the current level.

the Backdrop before the meeting this week was over two years with falling and low oil prices.

the Development has not least been influenced by the lack of intervention from Opec’s side. The organization selected at the tail end of 2014, a few months after that oljeprisfallet started, not to turn off the faucets. The reason for this was a desire to defend their market share against the emergence of shale oil from the united STATES.