Norway’s Oil Future Hinges on Urgent Exploration and New Investment

Despite the best exploration results in four years in 2025, Norway will need even more exploration and discoveries, as well as investment in new oil and gas projects, to reverse an expected decline in output from the late 2020s, the Norwegian Offshore Directorate said on Thursday. The Directorate expects investments of $25.3 billion (256 billion Norwegian crowns) from the industry in 2026, down by ?6.5% from 2025, Norway’s offshore energy regulator said in its annual report on the activity on the Norwegian Shelf.   Leading up to…