Norway's cutbacks only a minor obstacle

05/25/1998
Norway's Delayed and Deferred Field Development (35,188 bytes) Norway recently deferred 12 oil field developments and reduced oil exports as part of a plan to buoy crude prices, but these will not hold back a production boom for long. This is the view of Wood Mackenzie Consultants Ltd., Edinburgh, which said the cutbacks will be only a superficial wound for Norway's oil industry, rather than inflicting any lasting damage. "Norway has enjoyed six consecutive years of strong economic growth," said Wood Mackenzie, "and there has been a significant rise in oil and gas investment levels over the last 2 years. However, the economy is showing signs of overhea...
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