Lloyds has taken its "tried and tested" reserved lending practices over to Norway, where it aims to seal at least four energy financing deals with domestic E&P companies by the end of the year.

"Over the last year we have targeted Norway as the next major place to adopt reserve-based lending," says Alastair Lowe, director of oil & gas at Lloyds Banking. "E&P companies over there have not solely used this type of financing before, but they are now chomping at the bit. It's a surprise that no-one