EnergyWatch

Norwegian tax cuts could create boom in oil projects in 2022

In a new analysis, bank SEB expects more investment decisions on the Norwegian shelf in 2022. Tax cuts for the country's offshore sector particularly factor in.

Photo: Reuters Staff/Reuters/Ritzau Scanpix

There could be a de facto boom in store for oil projects on the Norwegian continental shelf next year, if one asks SEB.

Following tough times in the oil sector, the Norwegian parliament Stortinget in mid-2020 agreed on tax cuts for the sector. And recently, news emerged of higher carbon levies for the sector.

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