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ENERGY: Norway Government Projects 2025 Oil Output Rise But Gas Fall

ENERGY

Norway's government draft budget projects oil liquids production to rise by 5.2% y/y in 2025 but natural gas output to fall 1.6% y/y, according to Reuters.

  • Oil production, including condensate and natural gas liquids, is expected to increase to 122mcm of oil equivalent in 2025, or 2.1mboed, compared to 116mcm oe in 2024.
  • Natural gas production is expected to decline to 121bcm in 2025 from 123bcm in 2024.
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Norway's government draft budget projects oil liquids production to rise by 5.2% y/y in 2025 but natural gas output to fall 1.6% y/y, according to Reuters.

  • Oil production, including condensate and natural gas liquids, is expected to increase to 122mcm of oil equivalent in 2025, or 2.1mboed, compared to 116mcm oe in 2024.
  • Natural gas production is expected to decline to 121bcm in 2025 from 123bcm in 2024.