Norway oil firms raise investment forecasts

Oil and gas firms in Norway have increased their 2021 and 2022 investment forecasts during the last three months as more projects are being developed, a national statistics office (SSB) survey showed on Wednesday.

The biggest business sector in Norway now expects to invest 181.9 billion Norwegian crowns ($21.95 billion) this year, up from a forecast of 173.6 billion made in February, the SSB said.

The prediction for 2022 now stands at 142.8 billion crowns, indicating a potential decline compared to 2021. But the forecast was up from 138.5 billion seen three months ago and may continue to climb as companies formalise next year’s budgets. ($1 = 8.2853 Norwegian crowns)

Source: energy.economictimes.indiatimes.com

Published: 26-05-2021