Ministry of Energy

The Revised National Budget 2026

Stable production and high petroleum revenues from the Norwegian continental shelf

The government estimates the state's net cash flow from the petroleum sector to 686 billion NOK this year. This represents an increase from last year, when net cash flow was around 664 billion NOK.

Norway and Belgium Sign Agreement to Enable Cross Border CO₂ Transport

Today, Norway and Belgium have signed a bilateral agreement aimed at facilitating an infrastructure for the transport of CO2 by pipeline from Belgium to the Norwegian Continental Shelf. The agreement reflects both countries’ long-term commitment to carbon capture and storage as part of Europe’s climate efforts.

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.