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Not for the oil and gas industry, but because the supplier industry - that we have been investing in for so long now - they actually need it. The investment plans were driven by temporary Covid-era tax rules that were intended to spur petroleum investments during the pandemic. While the package created jobs and activity at a time when suppliers faced empty order books, the outlook beyond remains unclear, Hersvik said.
The volume of work coming from renewable development projects in Norway is still too small to offset a major decline in oil and gas exploration, he said. Advertise Subscribe Contact WO. Topics Onshore. Digital Transformation. Energy Transition. Global Energy Infrastructure. Kari Lundgren, Bloomberg August 26, All market data is provided by Barchart Solutions. Futures: at least 10 minute delayed. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice.
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