Lower oil investments next year

gas fieldsOil fields.Photo: Pixabay

Lower oil investments next year

Statistics Norway estimates a fall in oil investments of 3 per cent in 2018. 2017 appears to be somewhat stronger than expected, analysts believe.

Total investments in oil and gas, industry, mining and power supply will be estimated at NOK 196.2 billion in the year’s first estimate for 2018, according to Statistics Norway (SSB). This is a decline of 3 percent.

Estimates for oil and gas investments are 144 billion kroner. Last year, the figure was 155 billion.

In advance it was expected that the figure should be between 150 and 155 billion kroner.

Projects such as Johan Castberg and the expansion of the Snorre field are not included in the figures. It will be able to lift the figure for next year.

“Oil investments in 2018 may end in the in the same number as 2017 or slightly lower,” says chief analyst at Nordea Markets Erik Johannes Bruce.

“It was a solid upturn for 2017, so overall, the figures look alright,” says senior economist Kyrre Aamdal in DNB Markets to E24.

“It may seem that we are heading back to the usual season pattern where the first count is weak, and then they get up eventually,” he says.


© NTB Scanpix / Norway Today