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Oil and Gas Emergency Policy: Norway 2011 update
In 2007, the IEA published Oil Supply Security: Emergency Response of IEA Countries. This report provided an overview of the IEA oil emergency response system and a detailed look at the specific systems in each IEA country for responding to an oil supply crisis. The report represented the findings of a five-year review cycle of the emergency response mechanisms in IEA member countries. Since the 2007 publication, the IEA has started a new cycle of reviews which now includes reviewing gas emergency policies. Rather than waiting for the completion of the current review cycle to renew this publication, the…
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Energy Policies of IEA Countries: Norway 2001
…of IEA Countries: Norway 2001 The International Energy Agency's 2001 review of the energy policies and programmes of Norway. It finds that oil and gas contribute about 40% of Norway’s exports, and up to 16% of GDP, depending on world oil prices. The government used production controls as a means of influencing prices in 1986, in 1998 and again in 2002.
Important changes are occurring in the oil and gas sector. Statoil has been partially privatised, the State Direct Financial Interest in oil and gas developments has been restructured, and the Gas Negotiations Committee is to be abolished… -
Norway's legislation on oil security
Introduction With respect to oil supply security, Norway’s response to supply disruptions is primarily governed by the provisions of the 2006 Regulation relating to Petroleum Product Storing for Emergency Purposes (RPP) and of the 2011 Act on Business and Industry Preparedness. The 2006 Regulation has been enacted pursuant to the terms (articles 1-2) of the 2006 Act of Petroleum Product Storing for Emergency Purposes (APP). The Norwegian 1996 Petroleum Act provides the framework for upstream oil and gas activities on the Norwegian Continental Shelf. The 2011 Act on Business and Industry Preparedness regulates the interaction and cooperation between…
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Energy Policies of IEA Countries: Norway 2005
…of “best practice” in the management of valuable natural resources in a small economy.
Low rainfall in 2002-03 highlighted the importance of trade and domestic investment in generating capacity to secure reliable electricity services. The planned transmission link between Norway and the Netherlands is therefore important. Increasing domestic access to gas can also make a significant contribution to security of supply in electricity, as it contributes to the diversification of generation sources. Congestion has become a regular feature in the Nordic electricity market, and more integrated regulatory planning and the development of transmission capacity should be addressed in concert… -
Oil and Gas Emergency Policy: China 2012 update
…a net oil importer since 1993. More than 50% of the total crude oil imports came from counties of the Middle East. To prevent a potential shock to the economy caused by an oil supply disruption, the Chinese government has been steadily pushing to build an oil stock reserve system. China has completed four stockpiling facilities. Regarding natural gas, a strong policy push has boosted natural gas supplies, particularly to residential customers, so that its share doubled in 2009; in 2010, domestic supplies met 90% of domestic consumption. The key elements of China’s approach to gas security are to…
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Energy Policies of IEA Countries: Norway 2011 Review
Energy Policy Review Energy Policies of IEA Countries: Norway 2011 Norway has a unique twin role as a major oil and gas producer and as a strong global advocate of climate change mitigation. As the world’s third-largest exporter of energy, Norway contributes to global energy security by providing reliable supplies to consuming countries. At the same time, the Norwegians highly value environmental sustainability, and the country takes climate policy very seriously. Norway also manages its petroleum resources and revenue in a commendable way, setting a model for other countries. The challenge now for the government is to stimulate…
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Oil Market Report - October 2024
…bbl. Oil security in focus Benchmark oil prices bounced sharply higher in early October, as potential oil supply risks once again took centre stage. Escalating tensions between Israel and Iran are fuelling fears of a broader Middle East conflict and disruptions to Iranian exports. Nevertheless, the resolution of a political dispute in Libya that briefly cut its oil exports in half, relatively modest production losses due to major hurricanes sweeping the US Gulf Coast and weak end-user demand have helped to steady markets. At the time of writing, Brent crude oil futures were trading at around $78/bbl, up…
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Norway Oil Security Policy
Country Energy Security Policy - Oil Oil overview Norway has comprehensive legislative and regulatory frameworks in place to respond to an oil emergency, as the country’s economy remains very reliant on oil, especially for transport. According to the terms of Norway’s participation in the IEA, the country is not obliged to adhere to oil emergency response measures, as a major net exporter of oil. However, not only does Norway participate in all of the oil emergency work of the IEA, it also participated in IEA Collective Actions, most recently in March 2022. The oil emergency framework is primarily geared…
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Energy Policies of IEA Countries: Norway 2017 Review
…a reliable supplier of oil and gas. But as the world looks to cut its reliance on fossil fuels, Norway’s government should also consider measures to prepare for a future with lower oil and gas revenues. Norway’s large hydropower generation is another valuable energy asset particularly at a time when European electricity markets are integrating and variable renewable energy generation is growing. More cross-border connections are coming online and will help realise the full potential of hydropower for balancing variations in demand and supply in the regional market. This will also improve electricity security in Norway in…
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Oil Market Report - May 2017
…refinery closures in the Middle East, underperformance in Latin America and flat growth in India are not offset by growth in China and Russia. Highlights Weakness in a number of previously solid countries - India, US, Germany and Turkey - curtailed the 1H17 global demand growth estimate by 115 kb/d. Global demand growth is, however, still forecast at 1.3 mb/d in 2017, with demand at 97.9 mb/d.Global oil supply fell by 140 kb/d in April as non-OPEC, and especially Canada, pumped less. At 96.17 mb/d, output stood 90 kb/d below a year ago, even as non-OPEC returned…