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Norway’s Jan gas output exceeds official forecast, crude oil in line

Norway’s preliminary natural gas output exceeded official forecasts, while oil production was in line with expectations, data from the Norwegian Petroleum Directorate (NPD) showed on Tuesday.

Crude oil output slipped 0.6% from December to 1.8 million barrels per day (bpd) in January, but was 9.1% more than in the same month a year ago.

The Equinor-operated Johan Sverdrup oilfield has ramped up its output throughout 2020 to 500,000 barrels of oil equivalent per day in December, despite nationwide production cuts, which expired at end-2020.

The daily output of natural gas in January was at 335 million cubic metres, exceeding the NPD’s forecast by 4.1%, but broadly in line compared with the same month a year ago.
Source: Reuters (Reporting by Nerijus Adomaitis, editing by Gwladys Fouche)

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