Norway’s pure fuel output averaged 367.6 million cubic meters (12.98 billion cubic toes) a day (MMcmd) in December, growing for the third consecutive month sequentially and marking final 12 months’s highest month-to-month manufacturing, based on preliminary month-to-month manufacturing figures launched Tuesday by the nation’s upstream regulator.
Final month’s fuel manufacturing exceeded the Norwegian Offshore Directorate’s (NOD) forecast by 2.9 p.c and rose 1.5 p.c from November, the NOD reported on its web site. Yr-on-year the December determine climbed 1.6 p.c.
The Nordic nation bought 11.4 billion cubic meters (Bcm) of fuel in December, up 600 MMcm from November.
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Within the third quarter of 2025, the Nordic nation accounted for 51.8 p.c of pipeline fuel imported into the European Union, based on EU statistics company Eurostat.
“Norwegian fuel accounts for about 30 p.c of EU fuel consumption, and Norway is Europe’s largest provider after slicing off Russian fuel”, the NOD mentioned earlier in “The Shelf 2025” report revealed January 8, 2026.
The Equinor ASA-operated Troll subject within the North Sea accounts for about one-third of Norway’s fuel manufacturing. The NOD mentioned in that report it expects Troll to carry onto the place “over the subsequent few years”, noting most new developments “are comparatively small discoveries which can be being developed with subsea templates or wells from present subsea templates, and tied again to present infrastructure”.
In the meantime Norway’s oil manufacturing in December averaged two million barrels per day (MMbpd), up 4.6 p.c from November 2025 and 9.7 p.c from December 2024, the NOD mentioned Tuesday. The determine beat the NOD projection by 5.1 p.c.
Complete liquids manufacturing in December was 2.2 MMbpd, up 4.9 p.c month-over-month and eight.1 p.c year-on-year.
“Preliminary manufacturing figures for December 2025 present a mean each day manufacturing of two,190,000 barrels of oil, NGL [natural gas liquids] and condensate”, the NOD mentioned.
“The overall petroleum manufacturing in 2025 is about 240.5 million Sm3 [cubic meters] oil equivalents (MSm3 o.e.), damaged down as follows: about 106.8 MSm3 o.e. of oil, about 11.9 MSm3 o.e. of NGL and condensate and about 121.8 MSm3 o.e. of fuel on the market”, it mentioned. “The overall quantity is 2.1 MSm3 o.e. lower than 2024”.
Close to-Time period Secure Manufacturing
On the finish of 2025, there have been 97 fields producing in Norwegian waters, with no shutdowns over the 12 months, based on “The Shelf” report.
“Manufacturing is predicted to stay at a steady, excessive degree over the subsequent few years, and can then step by step decline in the direction of the top of the 2020s”, the NOD mentioned in that report.
At yearend 2025 the Norwegian continental shelf (NCS) had 17 subject growth tasks underway, the report mentioned. Eight of those are on Norway’s aspect of the North Sea, eight within the Norwegian Sea and one within the Norwegian a part of the Barents Sea.
“These tasks will assist preserve the funding degree excessive and gradual the underlying decline in manufacturing over the subsequent decade”, the report mentioned. “Further growth tasks will even assist prolong lifetimes and thereby result in improved restoration from present fields.
“The most important discoveries which have but to be developed are 7324/8-1 (Wisting) within the Barents Sea, 6406/9-1 (Linnorm) within the Norwegian Sea and 35/2-1 (Peon) within the North Sea. These discoveries are all being thought-about for growth and will contribute appreciable assets and values over the subsequent few a long time”.
Funding Slowdown
In 2026 the NOD expects funding within the NCS to fall 6.5 p.c from 2025 to NOK 256 billion ($25.61 billion) and exploration exercise to say no. “The Directorate expects the funding degree to say no step by step main as much as 2030”, the report mentioned.
“Important exercise and scarce capability in elements of the provider business, presumed prolonged lifetimes for a number of manufacturing amenities and progress in prices have led to greater projected prices and investments.
“That is particularly for 2026-2029, in contrast with what was offered in early 2025. Further growth wells and better drilling prices per growth properly additionally contribute to a better degree of funding. Projected investments for sure ongoing developments have additionally elevated.
“The first explanation for falling investments shifting ahead is the gradual completion and manufacturing startup of ongoing growth tasks. This may happen with out new tasks of an equal scope anticipated to return on stream.
“A number of beforehand deliberate tasks geared toward decreasing greenhouse fuel emissions by transitioning to operations with energy from shore have been suspended because of difficult profitability. These had been investment-heavy tasks that, based on earlier forecasts, accounted for a considerable share of the extent of funding and exercise main as much as 2030”.
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