Norway will continue to explore for oil and gas, incoming government says

A minority coalition of the leftwing Labour Party and the rural Centre Party will take power on Thursday after beating the ruling Conservative-led government in last month's election. "The Norwegian petroleum industry will be developed, not dismantled," the two parties said in a joint policy document, adding that it will maintain the existing system of handing out exploration licences.

Norway will continue to explore for oil and gas in the next four years, with most new drilling permits to come in mature regions of its oceans, the incoming government said on Wednesday. A minority coalition of the leftwing Labour Party and the rural Centre Party will take power on Thursday after beating the ruling Conservative-led government in last month's election.

"The Norwegian petroleum industry will be developed, not dismantled," the two parties said in a joint policy document, adding that it will maintain the existing system of handing out exploration licenses. While climate change was a top issue debated during the campaign for parliament, Labour has said it wants to ensure any transition away from oil and gas, and the jobs it creates is a gradual one.

 

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