Norwegian Production Rises

Norwegian output rose for the first time in four months in October, according to preliminary figures from the Norwegian Petroleum Directorate.

Figures showed an average daily production of around 1.946 million barrels of oil, NGL and condensate last month, marking an increase of around 82,000 barrels per day from September’s daily output of 1.864 million barrels, which was the lowest Norwegian production figure so far in 2015.

The production rise follows a three month, consecutive, output decrease from June to September, following a slight production spike from May to June. The average daily output of oil, NGL and condensate in May was 1.866 million barrels, which was the second lowest figure in 2015, compared to 1.948 million barrels in June, 1.946 million barrels in July and 1.924 million barrels in August. Prior to May’s figures, production levels rose from 1.925 million barrels in February, to 1.935 million barrels in March and 1.963 million barrels in April, which was the highest output level recorded so far in 2015.

Average daily oil production in October was 1.567 million barrels, which was 0.5 percent below oil production in October last year and around two percent above the NPD’s prognosis for the month. 

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist.

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