NEWS

Bloomberg: Norway Labor Lawmaker Says He’s Open to Debate on Oil Policy

Category: Business News

For establishment politicians in Norway, discussing changes to the country’s oil policies is akin to swearing in church. That’s what happened this week, when the Labor Party’s top energy lawmaker, said he was open to debating taxes and incentives for oil companies, including a lucrative exploration cash refund. Labor is the biggest opposition party and […]

Source: Bloomberg

Published: July 16, 2024

Bloomberg & DNV GL: Confident Oil Industry Set to Ratchet Up Spending in 2019

Category: Business News

After years of gloom, the oil industry’s out of its slump. Three-quarters of senior oil and gas professionals surveyed by energy and maritime services company DNV GL AS say they are optimistic about the sector’s growth in 2019, their sunniest outlook since before the crude-price collapse in 2014. Confidence across the energy industry is now […]

Source: Bloomberg

Published: July 16, 2024

The NCS is barely halfway through its oil and gas story, according to NPD

Category: Energy

STAVANGER — The Norwegian Petroleum Directorate’s forecasts show that, after a minor decline in 2019, oil and gas production will increase from 2020 and up to 2023. Overall production will then approach the record year of 2004.  “The activity level on the Norwegian Shelf is high. Production forecasts for the next few years are promising […]

Source: WorldOil

Norway Cuts 2019 Oil Output Forecast to Lowest in 30 Years

Category: Energy

Norway’s oil regulator reduced its forecast for production this year, predicting crude output could drop to the lowest in three decades before recovering in 2020. Oil output of 82.2 million cubic meters, or 1.42 million barrels a day, would be the lowest since 1988. The forecast compares to actual production of 86.2 million last year, and is […]

Source: Bloomberg

Norway Oil Lobby Hikes Spending Forecasts, Sees 16% Jump in 2019

Category: Energy

Norway’s oil lobby raised its forecast for investments in the country’s petroleum industry as cost cuts during a three-year downturn made projects more profitable and able to withstand even the recent slump in crude prices. Oil and gas companies operating in Norway will invest 184.5 billion kroner ($21.5 billion) in 2019, the Norwegian Oil and […]

Source: Bloomberg