Norway Increased Hydrocarbon Production by 10.7% in May
Norway increased the production of oil, condensate and NGL in May by 10.7% compared to the same month last year – up to 2.01 million barrels per day (b / d), according to preliminary data from the Norwegian Petroleum Directorate (NPD).
In April, according to revised data, production was 2.05 million bpd. Thus, last month it decreased by 1.9%.
Natural gas sales amounted to 8.4 billion cubic meters in May, which is 1.8 billion cubic meters (16.7%) less than a month earlier. This is the lowest level since at least the beginning of 2022.
The country’s oil production last month averaged 1.722 million b/d, down 1.8% from April and up 8.3% from May 2022 production. NPD predicted the figure at 1.75 million b/d.
The total volume of hydrocarbon production in Norway in January-May, according to preliminary calculations, amounted to about 99 million cubic meters of oil equivalent, including 43 million cubic meters of oil and 50.5 million cubic meters of natural gas. The cumulative production was at 2.2 Mcmce. more than the same period in 2022, according to the NPD.
