(Offshore Suport Journal, London, 27 May 2016) The Norwegian Export Credit Agency (GIEK) has said that the sharp downturn in the offshore industry means that a massive 50 per cent of its NKr102 billion (US$12.3 billion) loan guarantee portfolio has been placed under what it describes as “close scrutiny”. At the end of 2015, NKr87.2 billion of its guarantees were in the oil and gas sector.
Offshore downturn hits Norway’s export credit agency GIEK
