Norway’s oil and gas licensing round will not proceed during this parliamentary period, which ends in 2025, Norwegian media reported on Tuesday, citing anonymous sources.
The decision to postpone the so-called 26th licensing round was part of the minority government’s budget deal with the opposition Socialist Left Party (SV), public broadcaster NRK and news agency NTB reported.
The government, led by Labour Party Prime Minister Jonas Gahr Store, is reliant on SV — which wants to stop Norway exploring for new petroleum resources to fight climate change — to pass next year’s budget.
