Iceland’s Ministry of Industry and the National Energy Authority are currently preparing the first tenders for private licences to explore for fossil fuels in the Dragon Area of sea northeast of Iceland. MBL.is reports that there is plenty of interest. The tender period lasts from the middle of January to 15 May 2009. Read the full story

Chairwoman of the Norwegian Progres Party, Siv Jensen has warned about possible Russian influence in Iceland if the loan to the country goes through. “It would seriously destabilise the balance in the northern hemisphere,” she said. “We are in the midst of talks with regard to oil and gas usage rights and we would be putting more of this area in their hands if this goes through”.

Jensen feels that Norway should come to Iceland’s aid: “We have the capital and we should be able to Read the full story