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Old hands dominate Algeria’s upstream auction
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
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CEO argues the upstream potential remains huge as analysts question future oil production for Canadian province’s offshore industry
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Aker BP gives up on Arctic exploration, but Lundin expands its presence
Equinor promises more Norwegian gas
The supplier hails expanded Troll and Oseberg production permits. But the latter is already far exceeding its quota
Q2 maintenance saps Norway’s output
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Full steam ahead on Aker BP’s project pipeline
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The Johan Sverdrup oilfield in the North Sea
Upstream Norway
Ehsan ul-Haq
7 March 2025
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Norway may have already reached peak oil supply

Castberg may not be enough to offset declines in other fields, while its vastly different quality has far-reaching implications for buyers

Norway has emerged as a key reliable oil supplier, especially for Europe following the West’s imposition of sanctions against Russia. Norway’s flagship crude grade, Johan Sverdrup, has proven to be a viable alternative to Russian Urals. Although Norway has invested heavily in sustainable energy, it is leveraging its oil resources to finance the transition. Oil has helped the country boost its sovereign wealth fund to become one of the largest in the world. Indeed, Norway's oil industry is likely to contribute more than 20% to the country's GDP in 2025. Norway produced 2.01m b/d of oil and condensates in 2024, during which the North Sea Hanz and Tyrving fields came onstream, according to the

Also in this section
Old hands dominate Algeria’s upstream auction
24 June 2025
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
Angola’s oil industry revamp
24 June 2025
Africa’s second-largest oil producer is creating the right conditions for the sector to try to boost output, explains Ian Cloke, COO of UK-based Afentra
ADNOC targets Santos in big LNG push
24 June 2025
The takeover, if it gets the all-clear from regulators and other government authorities, would propel XRG and its parent firm ADNOC into the top tier of global LNG players
Oil demand ramps up air miles
23 June 2025
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks

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