Norway boosts oil production, defying environmental concerns

In a move that contradicts its environmental image, Norway has significantly increased oil drilling licenses, indicating a surge in hydrocarbon extraction.

Atle Staalesen reports for the Barents Observer.

In short:

• Norway awarded 62 new oil and gas drilling licenses, a notable increase from the 47 licenses in 2022.
• This expansion signifies Norway's highest level of oil and gas production since 2010, with peak production expected in 2025.
• Despite environmental concerns, the Norwegian government emphasizes the country's role as a stable energy supplier and job creator.

Key quote:

“This is important for both employment and value creation, as well as for facilitating Norway’s role as a stable energy supplier to Europe."

— Terje Aasland, Norway’s Minister of Energy

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