Oil and gas investments to fall to 2013 levels next year

Oil and gas investments to fall to 2013 levels next year:



"Oil and gas investments in Norway are expected to fall by 18.5% next year, reads a note released by financial services group DNB.



‘Statistics Norway's August survey for oil and gas investments supports the expectations of a sharp decline in oil investments next year. Companies say they will invest NOK 185.3 billion in 2015. This is 13.9 percent less than the estimate for 2014 issued August 2013. Moreover, the figures for 2015 include costs associated with removal and shutdown. These costs were not included in the figures for 2014 (given in August last year). Adjusted for this the decline is 18.5 percent from 2014 to 2015,’ DNB said on Monday.  



The financial services group, which also sees a decline in manufacturing investments, basically forecasts 2015 oil and gas investments to go back to 2013 levels.  "



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