In April, oil production in Norway significantly decreased

 Breaking News
  • Microsoft, Amazon and eBay are at record highs On Tuesday, securities of Microsoft Corp, Inc and eBay Inc broke records. The rush of investors’ demand for the shares of those companies involved in electronic commerce caused such...
  • Quarantine in Hong Kong is not for everyone Hong Kong is rescuing its stock exchange. In order to give life to the trading platform, the administration of the metropolis has shown flexibility concerning quarantine measures. So, Christopher Hui...
  • Economy of Japan demonstrates recession In the first quarter of this year, the economy of the Land of the Rising Sun dropped by 0.6% in monthly terms. The figures are not optimistic but are better...
  • Energy market news On Saturday, representatives of the countries included in the OPEC+ cartel managed to agree on the extension of the restrictions on oil production. It also became known that those countries...
  • Bentley fires employees in order to prevent losses in 2020 The Bentley brand has long been synonymous with luxury living. Unfortunately, the British automaker has to save because of a forced two-month break. The company’s CEO Adrian Hallmark said to...
In April, oil production in Norway significantly decreased
May 21
09:00 2020

The Norwegian Petroleum Directorate has released statistics on hydrocarbon production in April. It became known that the Scandinavian country has reduced oil, condensate and NGL production by 2.9% (on a monthly basis); the average volume has amounted to 2.117 million barrels per day.

If we consider the indicator in annual terms, then its value has increased 23.2%.

Natural gas production fell in April too. The reduction compared to March has amounted to 1.7 billion cubic meters in absolute terms. For the month, the production has totaled 9.02 billion cubic meters.

Oil production in April amounted to an average of 1.783 million bpd, which is 4.5% more than in March. In annual terms, oil production has grown by almost a third.

From the beginning of the year to the end of April, the total hydrocarbon production in Norway has amounted to 79.8 million cubic meters of oil equivalent. Oil has accounted for 33.2 million cubic meters, while natural gas has accounted for 40.1 million cubic meters. The total production has increased 3.9 million cubic meters compared to the same period last year.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment