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The simple answer is that it's complicated. You have to factor in currency exchange. In Norway we're starting to become unprofitable at around $32/bbl with the
by vegardx 7y ago
The simple answer is that it's complicated.
You have to factor in currency exchange. In Norway we're starting to become unprofitable at around $32/bbl with the current weak NOK against USD. Some older fields are more profitable than others, so it's not like the whole sector becomes unprofitable at a single point.
There are things that Norway could do in order to strengthen the NOK against USD, but this would be at the cost of other export industries, like fishing and metal, which combined are considerable export industries.