Bud's Offshore Energy (BOE)

“Norway cannot escape the unpleasant fact: this is a form of war profit”, daily paper Dagbladet wrote in an editorial. “While Ukraine is being destroyed, and most other countries are mainly feeling the negative effects of the war, such as higher energy prices, higher food prices and general inflation, we are making a gain”, it said.

thelocal.no

While such introspection is commendable, energy supply issues in Europe would be far worse were it not for Norway’s actions including:

• easing the tax burden to sustain exploration and production during the pandemic when oil prices crashed.
• predictable and consistent issuance of exploration rights to facilitate effective exploration programs and increase oil and gas recovery.
• safety leadership that reduces supply disruption risks as well as worker safety and environmental risks.