Norway Oil Output Beats Forecast, Gas Lags

November 19, 2019

Norwegian giant: Production from the large Johan Sverdrup oilfield began ahead of schedule, helping to lift Norway's October output. (Photo: Espen Rønnevik/Øyvind Gravås, Equinor)
Norwegian giant: Production from the large Johan Sverdrup oilfield began ahead of schedule, helping to lift Norway's October output. (Photo: Espen Rønnevik/Øyvind Gravås, Equinor)

Norway's oil production rose in October from the previous month, beating official forecast by 4.5%, while gas production continued to lag, the Norwegian Petroleum Directorate (NPD) said on Tuesday.

Output from the giant Johan Sverdrup oilfield kicked in ahead of schedule last month, contributing to a boost in Norway's crude output of 16.6% month-on-month and 2.4% year-on-year.

Daily natural gas output rose by 50.3% month-on-month to 9.3 billion cubic meters in October, but still missing forecasts by 13.6%, the industry regulator added.

Top Norwegian producer Equinor said last month it had restrained its gas output amid a supply glut.


(Reporting by Terje Solsvik)



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