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2018-01-04 12:20:00

NORWAY'S GAS RECORD

NORWAY'S GAS RECORD

REUTERSNorway's pipeline gas exports to Europe hit a record high in 2017, exceeding the previous year by almost 7 percent, preliminary data from the country's offshore gas systems operator Gassco showed on Tuesday.

Europe's second-largest gas supplier after Russia exported 116 billion cubic meters (bcm) of natural gas via pipelines to receiving terminals in Britain, Germany, France and Belgium last year, up from the previous record of 108.6 bcm in 2016.

Norway's pipeline gas exports meet about a quarter of Europe's demand.

Analysts said Norway's export levels in 2017 were boosted by low summer maintenance at the country's offshore gas fields, and higher output from its largest field, Troll.

More than 40 percent of all exports went to terminals in Germany, and over 30 percent to Britain, with the rest shared between France and Belgium.

The highest daily delivery in 2017 stood at 365.3 million cubic meters, the preliminary data showed.

Norwegian authorities increased Troll's production quota to 36 billion cubic meters from Oct. 1, 2017 until Sept. 30, 2018, up from 33 bcm for the previous 12 months, its operator Statoil has said.

Norway's annual export of gas to Europe has held at over 100 billion cubic meters each year since 2012, Gassco's data showed.

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Earlier:

 NORWAY'S OIL PROBLEMS
2018, January, 3, 15:35:00

NORWAY'S OIL PROBLEMS

BLOOMBERG - Norway’s oil production has been halved since a 2000 peak. While natural-gas output has surged, total production is forecast to fall again in the middle of the next decade. A flurry of investment decisions at the end of last year hides a painful truth: after Statoil’s $6 billion Johan Castberg oil field starts production in the Barents in 2022, the project pipeline is scant.

 

 NORWAY'S PRODUCTION DOWN 102 TBD
2017, December, 20, 19:15:00

NORWAY'S PRODUCTION DOWN 102 TBD

NPD - Preliminary production figures for November 2017 show an average daily production of 1 813 000 barrels of oil, NGL and condensate, which is a decrease of 102 000 barrels per day compared to October.

 

 NORWAY SELLS OIL & GAS
2017, November, 20, 09:00:00

NORWAY SELLS OIL & GAS

Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

 

 U.S. WANT NORWAY
2017, August, 31, 12:10:00

U.S. WANT NORWAY

Norway’s $970-billion sovereign wealth fund, the world’s largest, should allocate a bigger share of its investments to renewable energy to boost returns, a U.S. energy policy think-tank said

 

 HUGE NORWAY'S OIL & GAS
2017, August, 28, 19:40:00

HUGE NORWAY'S OIL & GAS

“We have been producing oil and gas in Norway for nearly 50 years and we are still not halfway done. Vast volumes of oil and gas have been discovered on the Norwegian shelf that are still waiting to be produced. We want companies with the ability and willingness to utilise new knowledge and advanced technology. This will yield profitable production for many decades in the future,” says Ingrid Sølvberg, Director of development and operations in the Norwegian Petroleum Directorate.

 

 NORWAY IS BETTER
2017, March, 7, 18:40:00

NORWAY IS BETTER

The Norwegian economy is slowly picking up after a two-year slowdown in its top industry, oil production, due to a halving of crude prices since mid-2014. In recent months, crude prices have risen and stabilised at around $55 per barrel.

 

 NORWAY'S INVESTMENT DOWN 21%
2016, November, 11, 18:30:00

NORWAY'S INVESTMENT DOWN 21%

Total investment in oil and natural gas extraction in Norway was 21% lower in the first half of 2016 compared with the first half of 2015, a decline of about 20.9 billion Norwegian kroner (US $3.5 billion). However, investment cuts have affected some segments of the industry more than others.

Tags: NORWAY, EUROPE, GAS, PIPELINE, GASSCO

Chronicle:

NORWAY'S GAS RECORD
2018, January, 19, 12:15:00

S.KOREA'S DIVERSIFICATION

PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

NORWAY'S GAS RECORD
2018, January, 19, 12:10:00

ADNOC'S 2030 STRATEGY

AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

NORWAY'S GAS RECORD
2018, January, 19, 12:05:00

TOSHIBA SELLS WESTINGHOUSE

WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

NORWAY'S GAS RECORD
2018, January, 17, 23:50:00

OIL PRICES: NOT ABOVE $70 YET

REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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