Oil sector in balance as Norway votes

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Oil sector in balance as Norway votes
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Norwegians voted on Monday in a parliamentary election broadly expected to see the 'Red-Green' opposition win, potentially influencing the fate of oil activities.

The oil sector accounts for 14 percent of Norway's gross domestic product, as well as 40 percent of its exports.OSLO - Norwegians voted on Monday in a parliamentary election broadly expected to see the"Red-Green" opposition win, potentially influencing the fate of oil activities in the largest producer in Western Europe.

The leader of Norway's Labour Party Jonas Gahr Store, a 61-year-old millionaire who has campaigned against social inequality, seems well placed to succeed her, but the exact shape of the coalition needed to pave his way to office is still unclear. The centre-right was seen garnering 67 mandates, while the Red Party was predicted to take nine and the Greens eight.

The report energised those who want to get rid of oil, both on the left and, to a lesser extent, the right.

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