Optimism in the oil industry

Ekofisk 2/4 Q after removal of drilling module in august 2014

Optimism in the oil industry

For the first time since the oil price drop, companies dependent on oil are more optimistic than other companies, according to a business report from SR-Bank.

 

– The downturn we’ve been through has been demanding, but at the same time helped to improve the ability to convert and reduce the cost levels in the businesses, says CEO in SR-Bank, Arne Austreid to Stavanger Aftenblad.

He believes that the business community in southwestern Norway has more competitive power now than at the start of 2015.

The survey includes 600 companies in Rogaland, Hordaland and the Agder counties. It shows that 60 percent of all companies are expecting better times ahead, among the oil companies, 66 per cent expect an upturn.

Prime Minister Erna Solberg (Conservatives) was present when the report was presented in Stavanger on Monday.

– These are signals that have noticed for a while, but the message is now growing stronger. We see it all over Norway now that the upturn is present, says Solberg to Dagens Næringsliv.

 

© NTB Scanpix / Norway Today

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