The list of Norway's 500 largest companies shows that the decline in oilprices in the autumn of 2008, has caused a decline in revenue for our industrial oil nation.
Norway’s 500 largest companies
The financial crisis in the autumn of 2008 lead to a serious decline of most crude commodities. The oil price went from about 150 dollars in the summer of 2008, to under 40 dollars late winter 2009. Even the price of aluminum, fertilizer and other crude commodities fell severely.
This influenced the accounts of Norway’s largest industrial companies.
According to the list of Norway's 500 largest companies, revenues of this particular segment have plummeted from 2008 to 2009. The 10 largest industrial companies has experienced a decline in revenue of in total NOK 308,5 billion.
STATOIL NO. 1
Compared to 2008, Statoil experienced the largest decline of staggering NOK 190 million in 2009. However they still hover at the top of the list with a revenue of NOK 465,4 billion.
Yearly Findexa Forlag publishes the list of Norway’s 500 largest companies. This year product manager Håvar Valved was concerned that Norwegian companies would be hesitant to share their results. On the contrary, they were just as eager to be named on the list.
His perception is that in spite of the serious decline in revenue, companies present good results. “Norwegian companies were quick to save costs, and have obviously succeeded,” Valved says.
See the complete list of Norway’s 500 largest companies here!