Norwegian parliament building in Oslo
Norway’s end-2022 PDO race heats up
The number of projects benefitting from tax breaks is set to top 20
The final two months of the year should see a flurry of submissions of plans for development and operation (PDOs) to Norway’s Ministry of Petroleum and Energy. Firms are seeking to meet an end-of-year deadline for tax breaks introduced during fears of a Covid-influenced slump in future upstream activity in mid-2020. Three PDOs have already gone in during November and December so far, with at least another seven aiming to sneak in before the close of 2022. According to Petroleum Economist analysis, the submissions by dominant Norwegian continental shelf (NCS) producer Equinor of the Irpa and Verdande PDOs and that of Maria Phase 2 by Germany’s Wintershall Dea takes the number of projects gree
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
