Norway’s Jan Gas Output Exceeds Official Forecast

SEATTLE (Oil Monster):   Norway’s preliminary natural gas output exceeded official forecasts, while oil production was in line with expectations, data from the Norwegian Petroleum Directorate (NPD) showed on Tuesday.

Crude oil output slipped 0.6% from December to 1.8 million barrels per day (bpd) in January, but was 9.1% more than in the same month a year ago.

The Equinor-operated Johan Sverdrup oilfield has ramped up its output throughout 2020 to 500,000 barrels of oil equivalent per day in December, despite nationwide production cuts, which expired at end-2020.

The daily output of natural gas in January was at 335 million cubic metres, exceeding the NPD’s forecast by 4.1%, but broadly in line compared with the same month a year ago.

Courtesy: www.reuters.com