Norwegian oil manufacturing throughout March 2020 fell under predictions made by the Norwegian Petroleum Directorate (NPD), in keeping with the directorate’s report on Friday.

Preliminary manufacturing figures for March 2020 present a median each day manufacturing of two,038,000 barrels of oil, NGL and condensate, which is a lower of 64,000 barrels per day in comparison with February.

Total fuel gross sales have been 10.7 billion Sm3 (GSm3), which is a rise
of zero.7 GSm3 from the earlier month.

Average each day liquids manufacturing in March was: 1,682,000 barrels
of oil, 328,000 barrels of NGL, and 27,000 barrels of condensate.

According to the NPD, the oil manufacturing in March is four.four per cent
decrease than the NPD’s forecast, and three.four per cent under the forecast to this point this
12 months. The Directorate acknowledged that the primary causes that manufacturing in March was
under forecast have been technical issues on some fields.

Source: NPD

The whole petroleum manufacturing for the primary three months in 2020
is about 60.5 million Sm3 oil equivalents (MSm3 o.e.), damaged down as follows:
about 24.6 MSm3 o.e. of oil, about four.9 MSm3 o.e. of NGL and condensate and
about 31.zero MSm3 o.e. of fuel on the market.

The whole quantity is 2.9 MSm3 o.e. greater than in 2019.

The publish Norway: Oil output falls in need of expectations for third month straight appeared first on Offshore Energy.

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