Norway’s production of oil liquids is expected rise by 5.2% in 2025 compared to 2024, while natural gas output is set to decline by 1.6%, the government projected in its draft budget on Monday.

The Nordic country is Europe’s top gas supplier and a significant producer of crude, pumping a total of more than four million barrels of oil equivalent per day.

The government expects oil production, including condensate and natural gas liquids, to rise to 122 million cubic metres (mcm) of oil equivalent (oe) in 2025, or 2.1 million barrels of oil equivalents per day (boed), from 116 mcm oe in 2024.

Natural gas output was seen falling to 121 billion cubic metres (bcm) in 2025 from 123 bcm this year.
Source: Reuters (Reporting by Nerijus Adomaitis, editing by Terje Solsvik)