Uncertain prices but short payback period on Norwegian shelf

Oil analyst Anders Wittemann says investment decisions for Norwegian offshore oil are simple because the payback period is so short.

Energy prices have shown wide variation in a shorter time frame. In 2020, the Norwegian oil and gas industry received a temporary tax break to keep business going, but now natural gas prices are at record highs, with crude barrels trading steady well beyond USD 100.

All this has stirred much uncertainty about what the future holds, resulting in, for instance, Equinor having to take stock anew and postpone its analysis report, Energy Perspectives, indefinitely.

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