Manufacturing, mining and quarrying
Statistics
Analyses, articles and publications
Strong increase in investments in 2024
Final investments for 2024 covering oil and gas, manufacturing, mining and quarrying and electricity supply increased sharply compared to 2023. It is particularly the investments in oil and gas industry that contribute to this strong increase. Investments in electricity supply contributed also to this increment, while investment in manufacturing showed some decreased. The latest estimates for 2025 indicate a further investment growth.
Clear growth in petroleum investment in 2024
Total investments in oil and gas activity in 2024, including pipeline transportation, ended at NOK 251 billion in 2024. In nominal terms, this is 16.7 per cent more than in 2023. For 2025, operators on the Norwegian continental shelf now estimate investments to be NOK 254 billion, which is only marginally higher than the estimate given in the previous quarter.
Unchanged production and positive outlook for manufacturing as a whole
Norwegian industrial managers report unchange production in manufacturing in the 4th quarter. New orders from both the domestic and export markets were unchanged. The general expectations for the 1st quarter of 2025 are positive for all types of goods.
Up-adjusted estimates for oil investments in 2025
Total investments in oil and gas activity in 2024, including pipeline transportation, are estimated at NOK 253 billion. This is NOK 12.4 billion more than estimated in the previous quarter. The estimate for 2024 is now NOK 256 billion.
High overall investment 2024 and 2025
Companies’ latest investment estimates for 2024 within oil and gas, manufacturing, mining and quarrying and electricity supply indicate a sharp increase in 2024. Early estimates indicate that the growth will continue in 2025 as well. It is oil and gas and electricity supply that contribute most to the growth both in 2024 and 2025.
Optimism in Manufacturing
Norwegian industrial managers report growth in production in manufacturing in the 3rd quarter. New orders from both the domestic and export markets were unchanged. The general expectations for the 4th quarter of 2024 are positive for all types of goods.
New estimates for oil investment indicate clear growth this year
Total investments in oil and gas activity in 2024, including pipeline transportation, are in accrued value estimated at NOK 257 billion, which is 4.1 per cent higher than estimated in the previous quarter.
High overall investments for 2024 and 2025
Companies’ latest investment estimates for 2024 within oil and gas, manufacturing, mining and quarrying and electricity supply indicate a sharp increase in 2024. Early estimates indicate that the growth will continue in 2025 as well. It is oil and gas that contribute most to the growth both in 2024 and 2025.
Growth in the industrial production in 2nd quarter
Norwegian industrial managers report growth in production in manufacturing in the 2nd quarter. New orders for the domestic market were unchanged while they increased for the export market. The general expectations for the 3rd quarter of 2024 are positive for all types of goods.
Oil investment estimate for 2025 upward adjusted
Total investments in oil and gas activity in 2025, including pipeline transportation, are estimated at NOK 216 billion, which is 5.2 per cent higher than estimated in the previous quarter.
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