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2018-10-19 10:40:00

NORWAY'S PETROLEUM PRODUCTION 1.6 MBD

NORWAY'S PETROLEUM PRODUCTION 1.6 MBD

NPD - Preliminary production figures for September 2018 show an average daily production of 1 607 000 barrels of oil, NGL and condensate, which is a decrease of 255 000 barrels per day compared to August.

Total gas sales were 9.0 billion Sm3 (GSm3), which is a decrease of 1.2 GSM3 from the previous month.

Average daily liquids production in September was: 1 302 000 barrels of oil, 275 000 barrels of NGL and 29 000 barrels of condensate.

Oil production for September is about 12 percent below the NPD's forecast for the month and about 4.4 percent below the forecast for 2018. The most important reason why production in September is lower than expected is maintenance shutdown that was not included in the prognosis for several fields.

The forecast used for comparison was prepared for The Shelf in January 2018. In the forecast presented in the national budget this autumn, expected oil production for this year is reduced by approximately 4 percent.

 

Production September 2018

 

Oil production 2018

 

Liquid production 2018

 

Gas production 2018

 

The total petroleum production for the first nine months in 2018 is about 171,1 million Sm3 oil equivalents (MSm3 o.e.), broken down as follows: about 64.4 MSm3 o.e. of oil, about 15.8 MSm3 o.e. of NGL and condensate and about 91.0 MSm3 o.e. of gas for sale.

The total volume is 6.5 MSm3 o.e. lower than in 2017.

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Earlier:

 NORWAY'S DEFENCE
2018, October, 17, 09:50:00

NORWAY'S DEFENCE

BLOOMBERG - The wealth fund’s initial case had focused on limiting Norway’s exposure to a drop in oil prices, given its status as western Europe’s biggest petroleum producer. When the proposal was first made last year, it rocked markets, and drew responses from a number of major investors.

 

 NORWAY'S RENEWABLE INVESTMENT $1.2 BLN
2018, September, 28, 09:30:00

NORWAY'S RENEWABLE INVESTMENT $1.2 BLN

PLATTS - Norway's state-owned power company Statkraft is planning annual investments of around NOK10 billion ($1.2 billion, Eur1 billion) in renewable energy in the period 2019-2025, it said.

 

 NORWAY'S PETROLEUM PRODUCTION: 1.87 MBD
2018, September, 19, 13:20:00

NORWAY'S PETROLEUM PRODUCTION: 1.87 MBD

NPD - Preliminary production figures for August 2018 show an average daily production of 1 870 000 barrels of oil, NGL and condensate, which is a decrease of 42 000 barrels per day compared to July.

 IMF: NORWAY IS BETTER
2018, September, 19, 13:15:00

IMF: NORWAY IS BETTER

IMF - Norway is in the midst of a healthy recovery from the oil downturn, supported by positive trends in oil prices and a strengthening labor market. In addition, banks remain profitable and well capitalized. However, household debt continues to increase and house prices have resumed their rise, especially in the Oslo area, after a correction during 2017.

 NORWAY'S OIL WILL BETTER
2018, August, 29, 10:15:00

NORWAY'S OIL WILL BETTER

REUTERS - Norway’s 2018 oil production is so far coming below the Norwegian Petroleum Directorate’s forecasts due to a couple of unplanned offshore shutdowns, though Nyland cautioned the situation may turn before the end of the year.

 NORWAY'S OIL GAS INVESTMENT WILL UP BY 6.2%
2018, August, 24, 11:15:00

NORWAY'S OIL GAS INVESTMENT WILL UP BY 6.2%

STATISTICS NORWAY - Total investments in oil and gas activity in 2019, including pipeline transportation, are estimated at NOK 165.1 billion, which is 6.2 per cent higher than estimated in the previous quarter. The estimate for 2018 is NOK 156 billion, which equals the estimate given in the previous quarter.

 NORWAY'S FUND: $1 TLN + $20 BLN
2018, August, 22, 13:05:00

NORWAY'S FUND: $1 TLN + $20 BLN

NORWAY'S FUND - The Government Pension Fund Global returned 1.8 percent, or 167 billion kroner, in the second quarter of 2018.

 

 

Tags: NORWAY, OIL, GAS, PRODUCTION