Often enough, changes in government do little to alter the status quo.

This is well illustrated in the case of Norway's new government – a coalition of the Labour and Centre Parties, with Prime Minister Jonas Gahr Støre representing the former – which is set to release the national budget around noon Monday local time.

According to media E24, the government will spend just as much on supporting the domestic oil industry as predecessor Erna Solberg's Conservative government had planned up to holding the recent general election: NOK 332.54bn (EUR 33.63bn).

That figure equates to 2.6 percent of Norway's Government Pension Fund Global, also known as the oil fund. This level, however, is slightly under the sum the state spent on the industry both ahead of and during the Covid-19 pandemic.

Large impairment inhibits growing sales at DNO 

Equinor strikes sixth oil discovery this year