Norway cuts oil budget by USD 23 billion
The Norwegian Petroleum Directive is now lowering its expectations dramatically for investments in the coming years. Energy companies on the Norwegian shelf will spend USD 23 billion less over the next five years.
BY KATRINE GRØNVALD RAUN
The Norwegian Petroleum Directive (Oljedirektoratet, OD), an independent public administrative body, is now putting numbers on the developments feared by the entire oil industry - namely the size of the Norwegian Petroleum Directive's estimated cost reductions on the Norwegian shelf.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
With your free trial you get:
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers
Start a free company trial todayRelated articles:
Analysts: Oil industry about to make the real cuts
For subscribers
Nordea: Norway's downturn in shipping and oil beats 1987
For subscribers
Lundin cuts 30 percent from its oil investment budget
For subscribers
