Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Norwegian oil investment likely to grow strongly in 2019, shows survey

The first quarter Norwegian oil investment indicates towards strong growth in oil investment in 2019 and a bit on the solid side to Norges Bank. The first quarter oil investment survey’s 2019 figure was downwardly revised to NOK 172.7 billion from NOK 175.3 billion. This was anticipated as investment in exploration is normally downwardly revised in the first quarter. The 2019 figure is 14 percent over the final 2018 figure.

The central bank projects growth of 10.5 percent. There would be revision after this, but they can go both ways, noted Nordea Bank in a research report. Statistics Norway cites new field developments still not in the survey that will give activity in 2019. Norges Bank might revise up its forecast for 2019 slightly.

The first figure for 2020 is NOK 158.5. This will surely be upwardly revised since there is a lot of known new field development not yet covered by the survey, said Nordea Bank.

“That the figure for exploration seems far too high will dampen the upward revision, but our first impression is that there should be no need for a major revision to Norges Bank forecast for growth at 3 percent in 2020”, added Nordea Bank.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

May 24 19:00 UTC Released

USCattle Marketed

Actual

106.9 %

Forecast

106.6 %

Previous

97 %

May 24 19:00 UTC Released

USCattle Placed On Fd

Actual

108.7 %

Forecast

113 %

Previous

105 %

January 31 00:00 UTC 689741689741m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 689741689741m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 701561701561m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 689741689741m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 701561701561m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 689741689741m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 689741689741m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 689741689741m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.