Norway: Gas Lags as Oil Sees Output Rise

(Credit: Equinor)

Norway's oil production exceeded an official forecast by 5.4% in September while gas lagged by 1.9%, the Norwegian Offshore Directorate (NOD) said on Tuesday.

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 close to 100 offshore fields.

Overall oil, condensate, natural gas liquids and gas output stood at 0.599 million standard cubic metres per day, equivalent to 3.77 million barrels of oil equivalent, an increase of 15.9% year-on-year.

Natural gas production in September rose to 282.1 million cubic metres (mcm) per day from 240.8 mcm a year earlier, but lagged a forecast of 287.6 mcm by 1.9%, the regulator said on its website.

Crude oil output rose to 1.82 million barrels per day (bpd) in September from 1.60 million bpd in the same month last year, and came in above a forecast of 1.73 million bpd, NOD's preliminary data showed.

(Reuters - Reporting by Stine Jacobsen, editing by Terje Solsvik)