Sunny, With Some Clouds

The future of Norsk Hydro appears bright as Executive Vice President Tore Torvund sees it. Both oil prices and production are high, the development of the giant Ormen Lange is on track and Hydro will start talks with Russian Gazprom of a possible partnership on the Shtokman field in the Barents sea. But dark clouds are forming on the horizon – unless new, large oilfields are found, the entire industry could be facing a difficult future.