The Norwegian Government has awarded 62 new offshore oil and gas production licences to 24 energy companies as part of its pre-defined areas 2023 (APA 2023) licensing round. 29 licenses were awarded in the North Sea, 25 in the Norwegian Sea, and 8 in the Barents Sea. Moreover, 16 of these production licenses are additional acreage for existing production licenses.
Do you think OPEC is limiting supply to help fight climate change? If you do, I have a bridge to sell you.
It’s obviously not why they’re doing it, but they nevertheless are working to increase oil prices and decrease consumption.