Ministry of Energy

The National Budget 2026

High production and large revenues from the petroleum industry

15/10/2025

The state's net cash flow from petroleum activities is estimated to be 664 billion NOK in 2025. The estimate for 2026 is approximately 521 billion NOK.

Ministry of Energy will award Two Project Areas for Offshore Wind in Utsira Nord

The Ministry of Energy has evaluated the two applications for the allocation of project areas for floating offshore wind in Utsira Nord. It is now confirmed that each applicant will be awarded their own project area.

The History of Norwegian Hydropower in 5 Minutes

Modern Norway was built and industrialised when we started to utilize rivers and waterfalls to produce electricity. Hydropower is still the backbone of the Norwegian power system, and will remain so in the foreseeable future. More than 100 years after the first hydroelectric power plant was built in Norway, nearly all our electricity production is based on hydropower.

Norway’s oil history in 5 minutes

In the late 1950s, very few people believed that the Norwegian continental shelf (NCS) might conceal rich oil and gas deposits. However, the discovery of gas at Groningen in the Netherlands in 1959 caused people to revise their thinking on the petroleum potential of the North Sea. Petroleum activities have contributed significantly to economic growth in Norway, and to the financing of the Norwegian welfare state.