Norway Resource Reserves (2026)

1980

2025

What to know

Norway had a diversified reserves profile spanning all three fossil fuels. Its holdings came to 8.122 billion barrels of oil, 54.54 trillion cubic feet of gas, and 2.2 million short tons of coal. EIA stopped publishing oil and gas proved reserves in 2023; the figures above use the latest archived release, while coal continues to update through 2023. Beyond fossil fuels, Norway is a top-ten producer of Natural Graphite among USGS-tracked critical minerals.

Key reserves

Oil reserves (2021)

8.12 B bbl

Natural gas reserves (2021)

54.54 TCF

Coal reserves (2023)

2.2 M ST

Natural Graphite reserves (2025)

#15

600.0 kt

Key terms

Proved reserves: — Quantities of crude oil or natural gas that geological and engineering data demonstrate with reasonable certainty are recoverable under existing economic and operating conditions.
Recoverable reserves: — Coal that can be technically and economically extracted with current mining methods at current prices. Excludes inaccessible deposits.
Billion barrels (B bbl): — Unit for oil reserves. One barrel equals 42 US gallons or about 159 litres.
Trillion cubic feet (TCF): — Unit for natural gas reserves. One TCF is roughly 28.3 billion cubic metres.
Million short tons (M ST): — Unit for coal reserves. One short ton equals 2,000 lb or 907 kg.

Crude oil proved reserves

In 2021, Norway had 8.122 billion barrels of proved crude oil reserves. Over the prior decade, those reserves grew significantly (+43%).

Natural gas proved reserves

In 2021, Norway held 54.54 trillion cubic feet of proved natural gas reserves. Reserves declined significantly over the prior decade (-24%).

Coal recoverable reserves

As of 2023, Norway's recoverable coal reserves totaled 2.2 million short tons. That declined significantly compared with a decade earlier (-83%).

The bottom line

Norway held meaningful stocks across oil, gas, and coal, which gave it flexibility across global energy markets. Reserve estimates had trended lower, reflecting extraction outpacing new discoveries.

Critical minerals (USGS)

Norway produces Natural Graphite among USGS-tracked critical minerals.

USGS marks 2025 production figures and all reserve estimates as estimated; some earlier production years are USGS estimates as well. Each commodity below charts its own mine-production history, with the 2025 reserve shown beneath its chart.

Natural Graphite production

Source: U.S. Energy Information Administration · Updated June 2026

What to know

Key reserves

Oil reserves (2021)

8.12 B bbl

Natural gas reserves (2021)

54.54 TCF

Coal reserves (2023)

2.2 M ST

Natural Graphite reserves (2025)

#15

600.0 kt

Key terms

Proved reserves: — Quantities of crude oil or natural gas that geological and engineering data demonstrate with reasonable certainty are recoverable under existing economic and operating conditions.
Recoverable reserves: — Coal that can be technically and economically extracted with current mining methods at current prices. Excludes inaccessible deposits.
Billion barrels (B bbl): — Unit for oil reserves. One barrel equals 42 US gallons or about 159 litres.
Trillion cubic feet (TCF): — Unit for natural gas reserves. One TCF is roughly 28.3 billion cubic metres.
Million short tons (M ST): — Unit for coal reserves. One short ton equals 2,000 lb or 907 kg.

The bottom line

Norway held meaningful stocks across oil, gas, and coal, which gave it flexibility across global energy markets. Reserve estimates had trended lower, reflecting extraction outpacing new discoveries.

Critical minerals (USGS)

Norway produces Natural Graphite among USGS-tracked critical minerals.

Russian Federation

Sweden

Finland

What to know

Key reserves

The bottom line

Critical minerals (USGS)

Russian Federation

Sweden

Finland

What to know

Key reserves

The bottom line

Critical minerals (USGS)