Norway set for PDO bonanza
Tax changes could see 20+ projects take FID
Norwegian continental shelf (NCS) operators are beginning to offer more clarity on their ambitious plans to fast-track discoveries to FID and submission of either new or revised plans for development and operation (PDOs) before a deadline of the end of 2022 to take advantage of temporary tax relief. The number is likely to be high, both on a project and production basis, but how high is still uncertain. In mid-2020, the Norwegian parliament approved changes to the country’s petroleum tax regime, providing accelerated recovery for investments and tax refunds for 2020 and 2021 spending. But the legislation also applies to new projects submitted for PDO before the end of 2022. And the incentive
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
