Norway’s hydrocarbon production shot up in July, with gas production attaining an elevated level but falling short of forecasts.
Norway's gas production averaged around 321 million cubic metres per day in July, a jump from the 251 MMcmd in June.
However, it missed the forecast of 359 MMcmd, according to data released by the Norwegian Petroleum Directorate (NPD).
On a year-on-year basis Norwegian gas output fell back .
In July 2022 the figure sat at 351 MMcmd at a time when Russia’s invasion of Ukraine spurred European nations to look for alternative sources of supply.
Norway’s crude output edged higher to 1.83 million barrels per day, up slightly from 1.82 million bpd in June, but missing the forecast of 1.84 million bpd, said the NPD.
Norwegian crude output for July greatly exceeded the level for the same month last year, coming at 1.64 million bpd.