The investment survey conducted during the second quarter within oil and gas, manufacturing, mining and quarrying and electricity supply in 2025 amounted to NOK 359 billion. This is 9.6 per cent higher than the corresponding figure for 2024. The increase can mainly be attributed to a clear growth in investments in oil and gas activities and electricity supply. Industrial investments are higher in 2025 compare to 2024 and are contributing to the overall increase as well.
The companies' latest estimates for total investments in 2026 are expected to rise by 3.4 per cent compared to the corresponding estimate for 2025. At the same time, there is significant uncertainty surrounding next year’s estimates, as they are provided at such an early stage.
The projected increase in 2026 is primarily driven by anticipated growth in investments for both electricity supply and manufacturing. In contrast, investments in Oil and gas activities are expected to have a negative impact on the overall increase. For more details about investments within the oil and gas industry, please see the following article.
According to [Figures that are adjusted for calendar effects and seasonal variation. Such adjustment gives a more accurate picture of the underlying trend in the time series and makes it easier to compare results of subsequent quarters. ], quarterly final investments had following development from the 4th quarter of 2024 to the 1st quarter of 2025:
- Oil and gas: 0.8 %
- Manufacturing: -2.6 %
- Electricity supply: 7.0 %