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Norway oil firms raise investment forecasts

OSLO, May 26 (Reuters) - Oil and gas firms in Norway have increased their 2021 and 2022 investment forecasts during the last three months as more projects are being developed, a national statistics office (SSB) survey showed on Wednesday.

The biggest business sector in Norway now expects to invest 181.9 billion Norwegian crowns ($21.95 billion) this year, up from a forecast of 173.6 billion made in February, the SSB said.

The prediction for 2022 now stands at 142.8 billion crowns, indicating a potential decline compared to 2021. But the forecast was up from 138.5 billion seen three months ago and may continue to climb as companies formalise next year’s budgets. ($1 = 8.2853 Norwegian crowns) (Reporting by Terje Solsvik; editing by Nerijus Adomaitis)

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