Norwegian Production Levels Dip from February to March

Preliminary production figures for March 2016 show a slight dip in Norway’s output level from February to March, according to the Norwegian Petroleum Directorate.

The NPD revealed that there was an average daily production of around 2.01 million barrels of oil, NGL and condensate last month, which was 51,000 barrels per day (or 2.5 percent) less than February. Average daily liquid production in March was 1.59 million barrels of oil, 382,000 barrels of NGL and 36,000 barrels of condensate.

Oil production was around 4 percent above the oil production in March last year and roughly 0.5 percent above the NPD’s prognosis for the month.

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