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NorwayNorway Observer

The Kingdom of Norway, is a Nordic country in Northern Europe occupying the western portion of the Scandinavian Peninsula, as well as Jan Mayen and the Arctic archipelago of Svalbard. Norway has a total area of 304,280 square kilometers and a population of about 4.9 million.

Norway is a unitary parliamentary democracy and constitutional monarchy, with HH King Harald V as its head of state and HE Jens Stoltenberg as its prime minister. Minister of Petroleum and Energy of Norway is HE Tord Lien.

Norway has rich resources of oil, natural gas, hydroelectric power, forests, and minerals, and is one of the largest exporters of seafood. Norway is the world’s thirteenth largest oil producer. The petroleum industry accounts for around a quarter of Gross domestic product. In addition, Norway is the fifth largest natural gas producer and the third largest per capita.

Oil and gas industry at Norway is now operating for almost 40 years with a focus on off-shore production. Hydrocarbon industry of Norway has know-how and required expertise to make optimum utilization of petroleum resources in a safe way. Developing expertise has been integral to Norway’s oil and natural gas policy. Experience, skill-sets and technological advances developed on Norwegian continental shelf are made use by global oil and gas industry.

Other major industries in Norway include shipping, food processing, shipbuilding, the metal industry, chemicals, mining, fishing, and the pulp and paper production.

Norway is a founding member of the United Nations, NATO, the Council of Europe, and the Nordic Council, and is a member of the European Economic Area, the WTO, OECD and is Observer Member to the GECF.

Photo: Reine, Lofoten islands

Major Indicators

Land (1000 sq km) 304,280 
Head of State King Harald V
Population 4,827,038
Capital Oslo
Language(s) Norwegian
National currency Norwegian krone
Energy sources Natural gas, petroleum, hydroelectric
GDP per capita (current US$) 78,178 
GDP (billion current  US$) 378.592
GDP growth % 1.80%
Value of exports of goods and services (billion $) 160,418,107,828
Value of petroleum exports (billion $) na
Value of gas exports na
Current account balance (billion $) 49.58
Proven crude oil reserves (billion barrels) 6.68
Crude oil production (1,000 b/d) 2,067
Refinery capacity (1,000 b/d) na
Output of petroleum products (1,000 b/d) 323.962
Consumption of petroleum products (1,000 b/d) 218.123
Crude oil exports (1,000 b/d) 1,771
Exports of petroleum products (1,000 b/d)   412
Proven natural gas reserves (trillion cu. m.) 2.31
Natural gas exports (billion cu. m.) 98.9
Natural gas consumption (billion cu. m.) 4.587
Marketed production of natural gas (billion cu. m.) 103.5

Location

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