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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.
NORWAY
Statistics Norway's Q1 '24 Oil and Gas Investment survey showed that final investments in oil and gas in Q4 2023 were 5.8% above Q3's levels in seasonally adjusted terms. This provides additional context to yesterday's GDP data, where overall Q4 '23 GDP was +1.5% Q/Q, while mainland GDP was +0.2% Q/Q.
- Estimated 2024 investments in oil and gas activity, including pipeline transportation, were revised up by 5% in Statistics Norway's Q1 '24 survey. Companies surveyed in the latest report expect NOK244bln of investments through the year. The previous survey had this figure at NOK232bln.
- Companies expect 2025 investment at NOK205bln (vs NOK244bln est. in 2024 and NOK215bln act. In 2023), due to "higher estimates in fields on stream", per the release. Estimates for 2025 field development were -1.5% lower than in 2024, though this is largely due to the late-2022 plan for development and operation (PDO), which has pushed up field development investments in 2023 and 2024.
- Field development resulting from the above PDO helped 2023 final investments of NOK215bln sit around 22% higher than 2022 (field investments were 52% in 2023 than 2022).
- Final investments for 2023 covering oil and gas, manufacturing, mining and quarrying and electricity supply were NOK290bln, 22% more than in 2022. Alongside the above 22% rise in oil and gas investments, manufacturing investments rose 29% in 2023 (vs 2022), electricity, gas and steam investments rose 11%.
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.
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