Nobel Institute setting (4)
I believe the answer is:
oslo
'nobel institute setting' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for oslo that I've seen before include "Scandinavian port" , "foreign port" , "European capital city (found in Czechoslovakia!)" , "Norwegian city, formerly Kristiania" , "Nordic city" .)