NORWEGIAN ARCTIC OIL GAS DOWN
Oil and gas production in northern Norwegian fields dropped significantly in the course of 2013.
The Snøhvit field, so far the only operating project in the Barents Sea, produced a total of 3,76 million sm3 of gas, a decline of 24 percent compared with 2012. Likewise, practically all of the fields located in the Norwegian Sea off the coast of the Nordland County had falling production figures.
In total, the north Norwegian oil production in 2013 dropped 16 percent to a total of 5,13 million Sm3, while the regional gas production fell 16 percent to 6,06 million SM3, figures from the Norwegian Petroleum Directorate show. The figures include production at the fields of Snøhvit, Heidrun, Morvin, Norne, Urd and Yttergryta.
Norway’s total production in the period totaled 213,7 million Sm3, a 4,9 percent decrease from 2012 and 49,8 percent less than at peak production in 2004.
More information here.
|November, 24, 09:45:00|
|November, 24, 09:40:00|
|November, 24, 09:35:00|
|November, 24, 09:30:00|
|November, 24, 09:25:00|
|November, 24, 09:20:00|
BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.
PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.
FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn.
U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.