NORWAY'S OIL PRODUCTION 1.629 MBD DOWN 236 TBD
NPD - Preliminary production figures for May 2018 show an average daily production of 1 629 000 barrels of oil, NGL and condensate, which is a decrease of 236 000 barrels per day compared to April.
Total gas sales were 9.6 billion Sm3 (GSm3), which is a decrease of 0.5 GSM3 from the previous month.
Average daily liquids production in May was: 1 293 000 barrels of oil, 307 000 barrels of NGL and 29 000 barrels of condensate.
Oil production is approx. 11 percent lower than the NPD's forecast, and about 5.0 percent below the forecast this year. The main reasons that production in May was below forecast is maintenance work and technical problems on some fields.
The total petroleum production for the first five months in 2018 is about 97.1 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 36.0 MSm3 o.e. of oil, about 8.9 MSm3 o.e. of NGL and condensate and about 52.1 MSm3 o.e. of gas for sale.
The total volume is 4.7 MSm3 o.e. lower than in 2017.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.