Norway Faces 20% Drop in Oil Investment After Prices Slump

Updated on
  • Investment estimate for 2016 falls by 6%, 2015 little changed
  • Forecasts for 2016 exploration spending slashed by 35%

Western Europe’s biggest oil and gas producer will probably see investments slump by one-fifth next year compared with 2014, when crude hit a peak, as the industry adjusts to considerably lower prices.

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