The Norwegian Government just postponed one of the country’s two oil and gas licensing rounds for the next three years. The decision was part of Norway’s minority government’s budget deal with the opposition Socialist Left Party (SV).
The Parliament election in Norway, Europe’s largest oil and gas producer, ended up securing support for a shift in Government, from today’s Conservative-coalition government to a Labour-coalition government. Talks and negotiations are happening over the next weeks, and one of the biggest issues is the future of the Norwegian oil and gas industry. Will Norway’s new government pass a more restrictive oil and gas policy?