From Yahoo Finance: 2025-05-07 11:29:00

Norway’s parliament approves new oil and gas exploration licensing round in frontier areas, potentially boosting drilling activities. Norway currently supplies 30% of EU’s gas imports, a significant role amid Russia’s invasion of Ukraine. Centre Party’s request delays licensing round until next year. Norway aims to identify new resources to offset expected output decline post-2030. Last year, Norway set a record for natural gas exports to Europe, with similar levels anticipated in the future. In 2022, Norwegian Government awarded 53 offshore oil and gas exploration licences to 20 companies, down from 62 licences and 24 companies the previous year. Licences distributed with 33 in North Sea, 19 in Norwegian Sea, and one in Barents Sea, down from eight.



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