Norway’s overall oil, gas output beats forecast in October

Norway’s combined oil and natural gas production exceeded an official forecast by 5% in October, the Norwegian Offshore Directorate (NOD) said on Wednesday. Norway is Europe’s largest supplier of natural gas and a major producer of oil, but output varies from month to month depending on maintenance needs and other stoppages at more than 90 offshore fields. Overall oil, condensate, natural gas liquids and gas output stood at 0.

657 million standard cubic metres per day, equivalent to 4.13 million barrels of oil equivalent, an increase of 1.9% year-on-year.



Natural gas production in October rose to 341.2 million cubic metres (mcm) per day from 328.8 mcm a year earlier, and exceeded a forecast of 328 mcm by 4%, the regulator said on its website.

Crude oil output rose slightly to 1.774 million barrels per day (bpd) in October from 1.772 million bpd in the same month last year, beating a forecast of 1.

639 million bpd by 8.2%, NOD’s preliminary data showed. Source: Reuters (Reporting by Terje Solsvik, editing by Nora Buli and Louise Heavens).