ONS 2016: ConocoPhillips chief to address conference
The boss of ConocoPhillips, Ryan Lance, has been confirmed as a speaker at ONS 2016, which takes place in Stavanger between August 29-September 1.
Stavanger
Airline ends business class only flights from Stavanger to Houston for oil workers
An airline has stopped business class only flights for oil workers from Stavanger to Houston after the decline in oil price. The journeys – which could cost as much as $7340 – were started in August last year by Scandinavian airline SAS. However the decline in demand from customers to fly on the specially upgraded Boeing 737-700 aircraft has seen the company invest in an alternative route from Copenhagen to New York.
Norway cuts rate to record low as oil slump rears recession risk
Norges Bank cut interest rates for a second time since oil prices collapsed to avoid a recession in western Europe’s biggest crude producer. The overnight deposit rate was cut by 25 basis points to a record low 1 percent, the Oslo-based central bank said. The decision was forecast by 16 of 17 economists surveyed by Bloomberg, while one saw no change. The bank signaled it may cut rates further.