Norway oil and gas output to rise 9% by 2024, regulator says

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Reuters UK

By Nerijus Adomaitis OSLO (Reuters) – Norway is set to boost its petroleum output by more than 9% by 2024 buoyed by a jump in investment in the country’s biggest export sector, data from the Norwegian Petroleum Directorate (NPD) showed on Thursday. Norway expects oil companies to submit “dozens” of new investment plans this year, up from eight in 2021, as they take advantage of tax incentives introduced by parliament. Petroleum output is expected to rise to 4.33 million barrels of oil equivalent in 2024, a rise of 9.1% from the preliminary 2021 reading of 3.97 million barrels, NPD forecasts sh…

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