DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Norwegian Sector Investment Growing

OIL

Norwegian oil companies have raised their investment forecasts for 2022 according to a national statistics office survey released today.

  • Investment is now expected at 167.2 billion Norwegian crowns ($17.57 billion) in 2022, up from a forecast of 159.5 billion crowns made in February.
  • The oil firms are incentivised to invest higher sums of capital based on the longer term outlook for high energy prices as much of the global market replaces Russian flows as well as tax incentives put in place by the Norwegian government making exploration more favourable.
  • “"The upward adjustment for 2022 is driven by higher estimates within the categories field development, onshore activity and exploration and concept studies," the statement said.
  • The Norwegian government opened the tax incentives during 2020 when the energy industry was on its knees. The incentives are set to run out to the end of this year which is expected to lead to a flurry of applications by December.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.