January 7, 2019 / 9:02 AM / 3 months ago

Norway oil investments to peak in 2019 -lobby

OSLO, Jan 7 (Reuters) - Oil and gas investments in Norway are expected to grow for a second consecutive year in 2019, an industry lobby group predicted on Monday as it sharply raised its forecast for the year.

Investments in the Nordic country’s most important industry are estimated to increase by 16 percent year-on-year to 184.5 billion crowns ($21.51 billion), the Norwegian Oil and Gas Association (NOG) said.

It had previously expected 2019 investments of 153 billion crowns.

$1 = 8.5783 Norwegian crowns Reporting by Oslo newsroom

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