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Norwegian (OSEAX) Oil and Gas Exploration and Production Industry Analysis

UpdatedSep 28, 2025
DataAggregated Company Financials
Companies10
  • 7D6.6%
  • 3M6.1%
  • 1Y16.6%
  • YTDn/a

In the last week, the Oil and Gas Exploration and Production industry is up 6.6%, with Aker BP up 5.7%. This takes the industry's 12 month performance to a gain of 17%. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

Has the Norwegian Oil and Gas Exploration and Production Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Sep 2025NOK 301.0bNOK 228.1bNOK 14.6b8.4x20.6x1.3x
Wed, 27 Aug 2025NOK 292.1bNOK 231.7bNOK 14.9b8.6x19.7x1.3x
Fri, 25 Jul 2025NOK 285.7bNOK 230.8bNOK 15.3b6.8x18.7x1.2x
Sun, 22 Jun 2025NOK 310.3bNOK 238.7bNOK 24.4b7x12.7x1.3x
Tue, 20 May 2025NOK 265.6bNOK 244.1bNOK 25.2b4.8x10.5x1.1x
Thu, 17 Apr 2025NOK 251.8bNOK 251.1bNOK 23.8b4.4x10.6x1x
Sat, 15 Mar 2025NOK 265.7bNOK 251.3bNOK 23.8b4.8x11.2x1.1x
Mon, 10 Feb 2025NOK 284.9bNOK 270.3bNOK 26.4b10x10.8x1.1x
Wed, 08 Jan 2025NOK 291.7bNOK 272.2bNOK 25.6b10.2x11.4x1.1x
Fri, 06 Dec 2024NOK 272.6bNOK 265.8bNOK 24.9b9.8x10.9x1x
Sun, 03 Nov 2024NOK 271.2bNOK 265.4bNOK 24.0b9.3x11.3x1x
Tue, 01 Oct 2024NOK 261.3bNOK 257.7bNOK 27.2b7.3x9.6x1x
Thu, 29 Aug 2024NOK 294.1bNOK 255.8bNOK 26.6b8.4x11.1x1.1x
Sat, 27 Jul 2024NOK 291.7bNOK 266.2bNOK 27.0b9.6x10.8x1.1x
Mon, 24 Jun 2024NOK 297.8bNOK 249.1bNOK 23.2b10.7x12.8x1.2x
Wed, 22 May 2024NOK 301.3bNOK 249.5bNOK 23.0b10.2x13.1x1.2x
Fri, 19 Apr 2024NOK 315.9bNOK 263.6bNOK 22.7b12.2x13.9x1.2x
Sun, 17 Mar 2024NOK 288.7bNOK 253.4bNOK 21.6b11.8x13.4x1.1x
Tue, 13 Feb 2024NOK 286.4bNOK 256.1bNOK 24.6b8.8x11.6x1.1x
Thu, 11 Jan 2024NOK 304.0bNOK 270.8bNOK 27.3b8x11.1x1.1x
Sat, 09 Dec 2023NOK 314.7bNOK 284.2bNOK 28.7b7.8x11x1.1x
Mon, 06 Nov 2023NOK 340.5bNOK 288.8bNOK 31.4b7.9x10.9x1.2x
Wed, 04 Oct 2023NOK 312.5bNOK 309.8bNOK 30.2b7.7x10.4x1x
Fri, 01 Sep 2023NOK 307.1bNOK 304.8bNOK 29.7b7.7x10.3x1x
Sun, 30 Jul 2023NOK 297.4bNOK 293.3bNOK 29.0b8.3x10.3x1x
Tue, 27 Jun 2023NOK 270.5bNOK 305.0bNOK 27.2b6.8x9.9x0.9x
Thu, 25 May 2023NOK 272.9bNOK 310.9bNOK 29.1b8.9x9.4x0.9x
Sat, 22 Apr 2023NOK 267.0bNOK 293.1bNOK 33.9b5.5x7.9x0.9x
Mon, 20 Mar 2023NOK 261.8bNOK 295.5bNOK 34.3b5.2x7.6x0.9x
Wed, 15 Feb 2023NOK 309.6bNOK 279.7bNOK 28.7b8.7x10.8x1.1x
Fri, 13 Jan 2023NOK 319.3bNOK 254.7bNOK 31.0b7.7x10.3x1.3x
Sun, 11 Dec 2022NOK 318.0bNOK 255.7bNOK 31.1b7.3x10.2x1.2x
Tue, 08 Nov 2022NOK 373.6bNOK 260.4bNOK 30.8b9.8x12.1x1.4x
Thu, 06 Oct 2022NOK 344.3bNOK 221.3bNOK 26.9b8.3x12.8x1.6x
Price to Earnings Ratio

12.8x


Total Market Cap: NOK 344.3bTotal Earnings: NOK 26.9bTotal Revenue: NOK 221.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 11.5x202320242025
Current Industry PE
  • Investors are optimistic on the Norwegian Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.6x which is higher than its 3-year average PE of 11.5x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 18% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

How does Norwegian Oil and Gas Exploration and Production compare with similar industries?

NO Market1.34%
Energy4.64%
Oil and Gas5.77%
Oil and Gas Exploration and Production6.62%
Integrated Oil and Gas5.84%
Oil and Gas Storage and Transportation1.87%
Oil and Gas Refining and Marketing0%0
Coal and Fuels-6.78%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AKRBP Aker BPNOK 263.305.7%
+NOK 9.0b		17.3%PE22.9x
VAR Vår EnergiNOK 35.498.3%
+NOK 6.8b		9.2%PE14.6x
DNO DNONOK 16.007.5%
+NOK 1.1b		41.0%PS2x
BWE BW EnergyNOK 47.259.0%
+NOK 1.0b		106.3%PE5.7x
BNOR BlueNordNOK 472.004.0%
+NOK 459.4m		4.8%PS1.5x

Latest News

BNOR
NOK 472.00
BlueNord
7D
4.0%
1Y
4.8%

Tyra Hub's Expansion Will Drive Increased Production Stability By 2025

BlueNord's fair value target was revised down to NOK602.00, as a sharp increase in the future P/E multiple outpaced even the improved revenue growth outlook. What's in the News BlueNord revised its Tyra Q4 2025 production guidance down to 21.0–27.0 mboepd from 26.0–30.0 mboepd.
DNO
NOK 16.00
DNO
7D
7.5%
1Y
41.0%
BWE
NOK 47.25
BW Energy
7D
9.0%
1Y
106.3%
OKEA
NOK 19.30
OKEA
7D
6.7%
1Y
-9.6%
VAR
NOK 35.49
Vår Energi
7D
8.3%
1Y
9.2%

Jotun FPSO And Johan Castberg Ramps Will Boost Industry Potential

A sharp increase in Vår Energi’s future P/E ratio, likely reflecting lower earnings expectations, has driven a slight decrease in the consensus analyst price target from NOK38.07 to NOK37.05. What's in the News Jotun FPSO reached peak production ahead of schedule, now producing over 80 kboepd gross, supporting ongoing development of the Balder field, with Balder Phase V and VI projects underway to maintain high output.
PEN
NOK 24.50
Panoro Energy
7D
6.5%
1Y
-7.7%
IOX
NOK 1.35
Interoil Exploration and Production
7D
-2.0%
1Y
-26.9%
AKRBP
NOK 263.30
Aker BP
7D
5.7%
1Y
17.3%

Yggdrasil Will Sustain Production But Profit Margins May Shrink Amid Emission Costs

Aker BP’s consensus price target was revised marginally lower as a sharp increase in its future P/E signals reduced earnings expectations despite stable discount rates. What's in the News Aker BP completed the Omega Alfa exploration campaign in the Norwegian North Sea, discovering 96-134 mmboe and significantly increasing resources in the Yggdrasil area.
PNOR
NOK 9.98
PetroNor E&P
7D
-1.4%
1Y
12.1%