Norway is one of the world’s largest energy exporters. oil makes new investments to ensure continuity in production. The Norwegian government announced today that it has allocated $18.5 billion worth of resources to oil fields.
Giants such as Aker BP, OMV and Wintershall Dea stood out among the companies that received official approval for the field expansion.
Norwegian Energy Minister Terje Aasland emphasized the positive impact of new investments at the press conference he held. According to Minister Aasland, producers who renew their fields will make a high employment contribution to the society. New technologies used in expanding fields are expected to maintain stability in oil production.
The Importance of Norway for the European Union!
The Northern European country, which derives its major source of income from oil, has recently faced environmental pressures. Leading civil society movements are reacting to the oil-driven economy due to carbon emissions from fossil fuels.
If the Norwegian government “They ensure Europe’s energy security” He defends himself against environmentalists with his argument. The problems that the Western world has with energy producers such as Russia and Iran negatively affect bilateral trade. Although the European Union has announced sanctions packages one after another after the invasion of Ukraine, the countries in the region are dependent on Russia for energy.
Brent oil is currently holding at $72 support.
