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Norwegian oil giant Statoil under pressure

January 27, 2015

The low oil price is putting massive pressure on Norway's giant oil company Statoil. The state-owned firm has reported a loss for the first time in 13 years. That has consequences for Stavanger, Norway's offshore center on the North Sea.

https://p.dw.com/p/1ERqh

Many suppliers and service companies have settled here. Some 100,000 people have reportedly lost their jobs because of the low oil price. It's a shock for a country used to prosperity. Report by Karl Harenbrock.