"This commission was a key demand from the Green Party (Miljpartiet De Grnne, MDG) in exchange for supporting the government 's budget. "We are now beginning to write the final chapter in Norway's oil history, and paving the way for all the new adventures that will make Norway progress," MDG official Ingrid Liland said in a statement. The "Restructuring Commission" will"
"Norway owes its massive wealth to oil, but reserves are declining. As part of the 2026 budget settlement, the country is to set up a commission to study potential scenarios for the country's post-oil economy. Norway is the largest producer of oil and natural gas in Europe (excluding Russia) and owes much of its modern prosperity to these reserves. However, production is declining, and the pressure to address climate change is mounting."
Norway's wealth has been built on oil and gas, but reserves and production are declining while pressure to address climate change grows. The 2026 budget settlement includes creation of a Restructuring Commission (Omstillingskommisjon) to study scenarios for a post-oil economy. The commission was a key demand from the Green Party (MDG) in exchange for budget support. The body will examine scenarios and measures to improve the adaptability of the Norwegian economy, focusing on how workforce and natural resources can be used more effectively as offshore production falls. The agreement stops short of a hard production end date and represents a political compromise.
Read at www.thelocal.no
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