Manufacturing, mining and quarrying
Statistics
Analyses, articles and publications
Increase in investments in 2025
Final investments for 2025 covering oil and gas, manufacturing, mining and quarrying and electricity supply increased moderately compared to 2024. The increase is primarily driven by higher investments in oil and gas industry. Investments in electricity supply contributed also to this increment. Investment in manufacturing showed a moderate increased. The latest estimates for 2026 indicate a further investment growth.
Growth in petroleum investment in 2025
Total investments in oil and gas activity in 2025, including pipeline transportation, ended at NOK 273 billion. In nominal terms, this is 8.7 per cent more than in 2024. For 2026, operators on the Norwegian continental shelf now estimate investments to be NOK 255 billion, which is higher than the estimate given in the previous quarter.
Moderate decline in manufacturing
Norwegian industrial leaders report moderate decline in total industrial production in the 4th quarter of the year. New orders from the export and domestic markets also show a decline for this quarter. The outlook for the coming quarter is nevertheless considered positive.
High overall investment 2025 and moderate increase for 2026
Companies’ latest investment estimates for 2025 within oil and gas, manufacturing, mining and quarrying and electricity supply indicate an increase in 2025. Early estimates indicate that the growth will be moderate in 2026. It is oil and gas and electricity supply that contribute most to the growth in 2025.
Higher estimates for oil investments in 2026
Total investments in oil and gas activity in 2026, including pipeline transportation, are estimated at NOK 249 billion. This is NOK 19 billion more than estimated in the previous quarter. The estimate for 2025 is now NOK 275 billion.
Cautious optimism in manufacturing
Norwegian industrial leaders report growth in total industrial production in the 3rd quarter of the year, but the proportion who share this view has declined somewhat. New orders from the export and domestic markets show a decline for this quarter. The general expectations for the 4th quarter are considered mildly positive.
High overall investment 2025 and 2026
Companies’ latest investment estimates for 2025 within oil and gas, manufacturing, mining and quarrying and electricity supply indicate an increase in 2025. Early estimates indicate that the growth will continue in 2026 as well. It is electricity supply that contribute most to the growth next year.
Increased estimate for oil investments for 2026
Total investments in oil and gas activity in 2026, including pipeline transportation, are in accrued value estimated at NOK 230 billion, which is 11 per cent higher than estimated in the previous quarter.
Higher industrial production in the second quarter, and neutral outlook for the 3rd quarter
Norwegian industrial leaders report an increase in total industrial production in the 2nd quarter of the year. New orders from the export markets show a moderate decline while new orders from the domestic markets are unchanged. The general expectations for the 3rd quarter are neutral.
Oil investment estimate for 2025 upward adjusted
Total investments in oil and gas activity in 2025, including pipeline transportation, are estimated at NOK 269 billion, which is 6 per cent higher than estimated in the previous quarter.
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