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High oil and gas prices give Norway record-high revenues

The Norwegian Petroleum Directorate reports record-high 2021 income from the continental shelf, expecting oil and gas output to rise ahead of 2024.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Increased oil and gas output in Norway combined with high energy prices have resulted in record-high state revenues in 2021, Norwegian Petroleum Directorate (OD) informs in a statement.

Slightly up from 2020, last year's production from the continental shelf totaled 102 million Sm3 of crude and 113 Sm3 natural gas.

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