Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head of Norwegian Petroleum Directorate (NPD) said on Thursday. Norway and Russia in 2010 agreed on a maritime border in the Barents Sea, ending a 40-year long dispute, and also agreed to share oil and gas resources spanning that border. Russia has allowed oil and gas exploration all along the border, including in the Arctic where it has already awarded exploration rights to Rosneft and Italy‚Äôs Eni. Norway currently only allows oil firms to explore in the southern part of the Barents Sea. But if Russia makes any discoveries in […]