Norway Cut Gas Production by 10% in August, Worse Than Forecast
Norway in August reduced natural gas production by 9.8% year on year, to 311.3 million cubic meters per day from 345 million cubic meters per day a year earlier, according to preliminary data from the Norwegian Petroleum Directorate (NPD).
The figure turned out to be worse than the NPD forecast, which expected production at 317.2 million cubic meters per day.
The July figure, according to revised data, amounted to 322.6 million cubic meters per day, and not 321.3 million cubic meters, as previously reported.
Meanwhile, oil, condensate and natural gas liquids production in August remained virtually unchanged in annual terms, remaining at 2.007 million barrels per day (b/d). The Directorate predicted this figure at 1.985 million bpd.
In particular, oil production in the country last month averaged 1.79 million bpd, which is 2.5% lower than the July volume, but 0.4% higher than production in August 2022. NPD predicted the figure at 1.772 million b/d.
The total production of all hydrocarbons in Norway in August was 630 thousand cubic meters of oil equivalent per day, decreasing by 3.1% compared to July and by 5.1% in annual terms.
The total volume of hydrocarbon production in Norway in January-August, according to preliminary calculations, amounted to about 156 million cubic meters of oil equivalent, including 69.6 million cubic meters of oil and 77.8 million cubic meters of natural gas. Cumulative production was 1.1 million cubic meters of oil equivalent. more than the same period in 2022, NPD said.
