Business

Tórshavn, the largest community in the Faroe Islands. While countries in the European Union, Norway and Iceland hasve seen their trade relations with Russia suffer because of sanctions and anti-sanctions, Faroese exports to Russia have gone up. (iStock)

Faroe Islands cashing in on Russian sanctions

Trude Pettersen, The Independent Barents Observer
Posted: Thursday, September 3, 2015 at 15:58 — Last Updated: Friday, September 4, 2015 at 19:10
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The Faroese economy benefits greatly from its monopoly of the Russian salmon market. The islands’ biggest marine produce company, Bakkafrost, has

Diving oil prices will have a serious effect on Barents drilling. Gazprom Neft and Eni, the two companies which have production platforms in the area, will inevitably have to record major losses. (iStock)

Business Business (Russia) General Russia Special Features

Grand losses in offshore Arctic oil

Atle Staalesen, The Independent Barents Observer
Posted: Wednesday, August 26, 2015 at 13:28 — Last Updated: Thursday, August 27, 2015 at 19:18
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Oil companies Gazprom Neft and Eni will lose big money on their offshore projects in the Barents Sea With the

Business Business (Finland) Finland General

Finnish exports to Russia down more than 35 percent

Yle News
Posted: Tuesday, August 25, 2015 at 18:44 — Last Updated: Thursday, August 27, 2015 at 19:18
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Finnish exports to Russia have been declining since 2013, when Russia was still Finland’s largest trading partner. Finnish Customs reported

Business Business (Norway) General Norway

Norway, Russia find peace in cod

Atle Staalesen, The Independent Barents Observer
Posted: Tuesday, August 25, 2015 at 17:58
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The two countries have together managed the rich fish stocks in the Barents Sea for almost half a century. Now,

President Ólafur Ragnar Grímsson of Iceland meets with first lady Donna Walker and Gov. Bill Walker during a reception for "The Alaskan Arctic: A Summit on Shipping and Ports" in the Quarter Deck at the Hotel Captain Cook on Sunday, Aug. 23, 2015. (Bill Roth / Alaska Dispatch News)

Business Business (USA) General Special Features USA

Calls for action at Arctic shipping conference

Yereth Rosen, Alaska Dispatch News
Posted: Monday, August 24, 2015 at 15:23 — Last Updated: Tuesday, August 25, 2015 at 18:51
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With Arctic sea ice dwindling toward what is likely to be one of the lowest minimums on record, conditions are primed for

Crude oil marks lowest price in 6 1/2 years. Lukoil is Russia's largest private oil company. (Thomas Nilsen/Barents Observer)

Business Business (Norway) General Norway Special Features

Oslo, Moscow stock markets deep-dive

Thomas Nilsen, The Independent Barents Observer
Posted: Monday, August 24, 2015 at 14:48 — Last Updated: Monday, August 24, 2015 at 14:53
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The falling price of oil is dragging the kroner and the rouble down. The decline in oil price is triggering

Flying time from Helsinki to Longyearbyen will be some three hours. ( Thomas Nilsen/Barents Observer)

Business Business (Norway) General Norway

Finnair opens route to Norwegian Arctic

Thomas Nilsen, The Independent Barents Observer
Posted: Thursday, August 20, 2015 at 18:38 — Last Updated: Monday, August 24, 2015 at 20:29
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Will be the first airline to offer scheduled international flights to Longyearbyen in the Norwegian Arctic. Finnair’s direct route from

Wind turbines are covering increasingly bigger lands in northern Finland. (Thomas Nilsen/Barents Observer)

Business Business (Finland) Finland General Special Features

Wind power growing most in North Finland

Atle Staalesen, The Independent Barents Observer
Posted: Wednesday, August 19, 2015 at 13:05 — Last Updated: Thursday, August 20, 2015 at 20:43
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Northern Finland moves with the winds, outpaces neighboring Nordic regions in wind power generation. Figures assembled by Patchwork Barents show that the

The Chinese cargo ship Yong Sheng (pictured here in Sri Lanka). ( Sanka Vidanagama / AFP)

Business Business (Russia) General Russia

Chinese company mulls more Arctic shipping

Atle Staalesen, The Independent Barents Observer
Posted: Tuesday, August 18, 2015 at 18:26 — Last Updated: Thursday, August 20, 2015 at 20:43
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As one of its cargo ships arrives in Sweden after the transcontinental voyage, shipping company Cosco says it might boost

The oil drilling rig Polar Pioneer in a dock in Seattle in May 2015. The rig is the first of two drilling rigs Royal Dutch Shell has outfitting for Arctic oil exploration. (Elaine Thompson/File/AP)

Business Business (USA) General Special Features USA

Shell gets drilling go-ahead in Chukchi

Yereth Rosen, Alaska Dispatch News
Posted: Tuesday, August 18, 2015 at 13:21 — Last Updated: Wednesday, August 19, 2015 at 20:32
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Royal Dutch Shell won permission on Monday to start deep drilling at a Chukchi Sea exploration well, opening the way for the

Former Chief Executive of British Petroleum Lord Browne leaves BP headquarters in 2007. (Peter Macdiarmid/Getty Image)

Business Business (USA) General USA

Former BP chief exec warns Shell about Arctic drilling

Kamala Kelkar, Alaska Dispatch News
Posted: Friday, August 14, 2015 at 15:26 — Last Updated: Monday, August 17, 2015 at 19:44
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The former chief executive of BP, who headed the company during a spate of nasty disasters including the biggest ever pipeline

LUKoil president Vagit Alikperov, attends a plenary session of the World Petroleum Congress in Moscow, on June 16, 2014. (Vasily Maximov/AFP/Getty Images)

Business Business (Russia) General Russia

First step towards Arctic shelf for Lukoil

Atle Staalesen, The Independent Barents Observer
Posted: Wednesday, August 12, 2015 at 15:29
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The company secures additional access to the Russian Arctic coast as it wins the license to the East Taimyr oil

A construction site in Finland. The number of building companies seeking bankruptcies remains high, though it has declined by nearly 20% since last year. (iStock)

Business Business (Finland) Finland General

Bankruptcies dip in Finland

Yle News
Posted: Wednesday, August 12, 2015 at 15:15 — Last Updated: Thursday, August 13, 2015 at 20:33
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While the building industry showed the largest drop, nearly 50 companies per month still filed for bankruptcy in the first

Economists are far from exuberant in their characterisation of Finnish finances. Words like dismal, weak, low-key and no change abound in their responses.(Jyrki Lyytikkä / Yle)

Business Business (Finland) Finland General

Zero growth at best for Finland: Yle Poll

Yle News
Posted: Tuesday, August 11, 2015 at 18:36 — Last Updated: Wednesday, August 12, 2015 at 15:38
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The nation was hoping for economic turnaround this year. Instead, 2015 threatens to become Finland’s fourth consecutive year of recession.

Business Business (Russia) General Russia

New US sanctions against Russian oil

Atle Staalesen, The Independent Barents Observer
Posted: Monday, August 10, 2015 at 13:45 — Last Updated: Wednesday, August 12, 2015 at 12:22
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Washington has introduced sanctions against Gazprom’s Yuzhno-Kirinskoye field, one of the biggest hydrocarbon projects on the Russian shelf. The move