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Energy and manufacturing
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Close ties with Sweden
About 330 000 persons are working for subsidiaries of foreign companies. The vast majority of these companies belong to groups located in the EU or in the USA, and Sweden is the most important partner country.
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Decreas in total sales
Total sales of petroleum products in May amounted to 723 million liters, a 7 million litres decrease compared to May in 2017.
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Higher prices on oil and petroleum products
The Producer Price Index (PPI) increased by 1.2 per cent from April to May. This was the third month in a row with an increase. Except for February this year the PPI has risen continuously since July last year.
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Small output decline in manufacturing
Norwegian manufacturing output declined 0.3 per cent from February to April 2018 compared to the previous three-month period, according to seasonally-adjusted figures. From March to April 2018, output went up 1.1 per cent.
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Decline in manufacturing turnover
Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing decreased by 0.6 per cent in the period February to April 2018 compared with the previous three-month period. However, a 1.9 per cent increase was recorded from ...
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Spillover-effects from the offshore petroleum to the mainland economy
Reports 2018/18
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Increased district heating
District heating consumption increased by 4.4 per cent in 2017 compared to the year before and amounted to 5.5 TWh. Investment in district heating production and the further expansion of the district heating net has pushed up consumption over time.
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Higher electricity prices for households
The average price of electricity for households, excluding taxes and grid rent, was 42.5 øre per kWh in the first quarter of 2018. This is 24 per cent higher compared to the first quarter in 2017.
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Total investments are expected to increase in 2019
Companies’ latest investment estimates for 2019 are expected to increase within oil and gas, manufacturing, mining and quarrying and electricity supply. New 2018 estimates are adjusted downwards, but still show growth compared to 2017.
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Oil investment estimate for 2018 adjusted downward
Total investments in oil and gas activity in 2018, including pipeline transportation, are NOK 156.5 billion, which is 2.2 per cent lower than estimated in the previous quarter.
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Increase in total sales
Total sales of petroleum products in April amounted to 662 million litres, a 65 million litres increase compared to April in 2017.
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Higher energy use in manufacturing
The preliminary figures show that the total energy consumption in Norwegian industry, mining and quarrying was around 79 000 GWh in 2017, which is 3.8 per cent higher than in 2016.
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Energy prices increased in April
The Producer Price Index (PPI) increased by 3.3 per cent in April, mainly due to higher prices on energy goods. While higher prices on natural gas and crude oil caused a rise in Norway’s PPI, lower prices on electricity curbed the overall growth s...
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Decline in manufacturing turnover in the first quarter
Seasonally-adjusted figures showed that the total turnover in Norwegian manufacturing decreased by 1.4 per cent in the first quarter of 2018 compared to the last quarter of 2017. However, a 0.5 per cent increase was recorded from February 2018 to ...
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Output decline in manufacturing in the first quarter of 2018
Norwegian manufacturing output declined 1.1 per cent from the fourth quarter of 2017 to the first quarter of 2018, according to seasonally-adjusted figures. On a month to month basis, from February to March 2018, output was almost unchanged with a...
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