Calgary Herald | Statoil announces new job cuts amid low oil price MarketWatch The woe's of the oil industry, the backbone of the Norwegian economy, are rippling into other sectors. The country's growth is expected to drop to 1.2% this year from 2.4% a year ago as oil companies spend less on maintenance and new projects. In the ... Statoil to Lose 2000 More Jobs After Collapse in Crude Norway's Statoil extends focus from output growth to cost cuts |