Norway's total oil and gas production beats expectations in June

Norwegian Offshore Directorate, NOD, said that Norway's combined oil-and-gas production in June exceeded the official forecast by 2,3%.

Norway is Europe's biggest supplier of natural gases and oil. However, output can vary from month to months depending on maintenance and other stops at over 90 offshore fields.

The total oil, gas liquids, condensate and natural gas production was 0.587 standard cubic metres per a day. This is equivalent to 3.69 millions barrels of crude oil. This represents a 10.9% decrease year-on-year, due primarily to increased maintenance.

The regulator reported on its website that natural gas production fell in June to 292.3 million cube metres (mcm), down from 345.9mcm per day a year ago, but it exceeded the forecast of 283.6mcm by a margin of 3.1%.

NOD's preliminaries showed that crude oil production fell from 1.73 to 1.68 million barrels a day (bpd), but was still above the forecast of 1,62 million bpd. Reporting by Terje Solsvik and Louise Breusch Rasmussen; editing by Stine Jacobisen

(source: Reuters)