Norway’s Oil Investment Hits Record High

Investments in the oil and gas sector in Norway are set to hit a record high this year, due to higher development activity on new projects and the cost inflation in the industry, Statistics Norway said on Thursday in its fourth-quarter survey of companies’ investment plans. Total investments in oil and gas activity, including pipeline transportation, are now estimated at $22.9 billion (256 billion Norwegian crowns) for this year, according to Norway’s statistics office. The estimate is an all-time high for oil and gas investments in…