Norway Hydrocarbon Production Falls by 2.9% in April

In April, Norway reduced the production of oil, condensate and NGL (natural gas liquids, a wide fraction of light hydrocarbons) on a monthly basis by 2.9% to 2.117 million barrels per day. In March, the country produced 2.057 million bpd, according to preliminary data from the Norwegian Petroleum Directorate (NPD).

On an annualized basis, production increased by 23.2%.

Last month, natural gas production totaled 9.02 billion cubic meters, down 1.7 billion cubic meters compared to March. At the same time, the indicator was below the NPD forecast of 9.37 billion cubic meters.

Oil production in April amounted to an average of 1.783 million bpd, which is 4.5% more than the March volume. The NDP forecast is 1.751 million bps. In annual terms, oil production soared by more than 30%.

The total hydrocarbon production in Norway in January-April, according to preliminary estimates, amounted to about 79.8 million cubic meters of oil equivalent, including 33.2 million cubic meters of oil and 40.1 million cubic meters of natural gas. Total production increased by 3.9 million cubic meters compared to the same period in 2019.

source: reuters.com

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