Norway County Analysis Brief: “Norway, the largest holder of natural gas and oil reserves in Europe, provides much of the oil and gas consumed on the continent. In fact, Norway was the second largest exporter of natural gas in the world after Russia, and the seventh largest exporter of oil. In 2010, crude oil, natural gas, and pipeline transport services accounted for almost 50 percent of Norway’s exports revenues, 21 percent of GDP, and 26 percent of government revenues according to the Norwegian Petroleum Directorate (NPD). Although Norway’s oil production peaked in 2001 at 3.4 million barrels per day (bbl/d) and declined to 2.0 million bbl/d in 2011, natural gas production has been steadily increasing since 1993, reaching 3.6 trillion cubic feet (Tcf) in 2011.”