Norway produced 349.3 million cubic meters (12.34 billion cubic toes) a day (MMcmd) of pure gasoline in March, down month-on-month and year-on-year, in response to preliminary official figures printed Tuesday.
Final month’s gasoline output marks a 1.6 p.c lower from February 2026 and 0.8 p.c from March 2025, the Norwegian Offshore Directorate (NOD) reported. The March 2026 determine additionally fell wanting the NOD’s projection by 0.5 p.c.
March 2026 marks the second consecutive month that the Nordic nation’s gasoline manufacturing declined each sequentially and by prior-year comparability.
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Norway bought 10.8 billion cubic meters (Bcm) of gasoline in March 2026, down 0.9 Bcm from the prior month.
Oil manufacturing final month averaged 1.94 million barrels per day (MMbpd), down 1 p.c from February 2026 however up 10.6 p.c from March 2025. The determine for March 2026 exceeded the NOD forecast by 9.1 p.c.
Liquids manufacturing in March 2026 totaled 2.15 MMbpd, down 0.9 p.c from the earlier month however up 9 p.c from the identical interval in 2025.
“The full petroleum manufacturing up to now in 2026 is about 63.2 million Sm3 [standard cubic meters] oil equivalents (MSm3 o.e.), damaged down as follows: about 28.0 MSm3 o.e. of oil, about 3.1 MSm3 o.e. of NGL [natural gas liquids] and condensate and about 32.1 MSm3 o.e. of gasoline on the market”, the NOD stated. “The full quantity is 3.4 MSm3 o.e. greater than 2025”.
The Power Ministry estimated that Norway’s petroleum business generated NOK 664 billion ($71.54 billion) in web money circulate final 12 months. The determine was anticipated to drop to NOK 521 billion in 2026, the ministry stated in a web based assertion October 15, 2025.
“The revenues in 2025 present a foundation for public spending of shut to twenty billion NOK yearly going ahead”, the ministry stated.
Norway has been the European Union’s prime provider of pure gasoline. In response to the most recent quarterly gasoline market report of the European Fee, the EU purchased 22 Bcm of gasoline, or 30 p.c of its gasoline imports, from Norway within the second quarter of 2025. Norwegian gasoline accounted for 54 p.c of gasoline piped into the EU in April-June 2025, in response to the report.
“The world and Europe could have a necessity for oil and gasoline for many years to return, and it’s subsequently essential that Norway continues to develop the Norwegian continental shelf to persist as a secure and long-term provider of vitality”, Power Minister Terje Aasland stated. “Due to this fact, the federal government needs to make sure secure and predictable regulatory framework, and a excessive degree of exploration exercise”.
The NOD expects Norway’s manufacturing to be secure by means of the last decade earlier than declining on account of pure depletion.
“Ongoing building and improvement tasks have the previous few years contributed to a excessive degree of exercise and huge investments on the continental shelf”, the ministry added. “The investments within the petroleum business are estimated to be roughly 272 billion NOK in 2025 within the nationwide funds, which corresponds to 23 p.c of the full investments in Norway.
“Over time, as the continuing bigger tasks are accomplished, the investments are anticipated to lower. It’s particularly anticipated decreased demand within the segments of the availability business which can be oriented in direction of standalone developments.
“To uphold the exercise going ahead, it’s needed with new investments sanctions. A secure degree of the exercise is necessary to make sure that the competence within the provide business is maintained and enhanced”.
To contact the writer, e-mail jov.onsat@rigzone.com
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