Oil and condensate production in Norway continues to decline. In April, the figure fell to 1.868 million barrels per day, and in annual terms, production fell by 11.6%.
According to the Norwegian Petroleum Directorate (NPD), sales of natural gas are also declining. For 1 month, they decreased by 1 billion cubic meters, reaching 10.1 billion cubic meters.
Oil production in April averaged only 1.513 million barrels per day, which is even lower than the conservative forecast of NDP. Relative to April 2017, the indicator decreased by 11.4%.
Depletion, repair work and technical problems at Norwegian fields have become the main sources of production decline.
In just four months of 2018, Norway reduced hydrocarbon production by 3.5 million cubic meters of oil equivalent, or up to 79.5 million cubic meters of oil equivalent.
Meanwhile, Norway accounts for about 2% of world oil exports, and the bulk remains in Europe. In fact, it is the only major intra-European supplier. Only 20% of oil remains in Norway, the rest supplies to other countries: Great Britain (27%), Netherlands (17%), Germany (8.5%), Sweden (5.4%), France (5.1%) and others.
Natural gas is also supplied to the Netherlands and the United Kingdom.