Norway Sees Rising Oil Production and Falling Gas Output in 2025

Norway expects its oil liquids production to rise by 5.2% next year from 2024, while natural gas production is set to slightly drop by 1.6%, the Norwegian government said in its 2025 budget bill on Monday. The bill assumes that Norway’s oil production, including condensate and natural gas liquids (NGL), will increase to about 2.1 million barrels of oil equivalent per day (boepd) in 2025, up by 5.2% from the estimated production this year. Norway’s natural gas output will drop to 121 billion cubic meters (bcm) next year from an estimated…