PEAK OIL - The New Y2K or The Beginning of the Real End? Message Board

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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End?

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To: kryptonic6 who wrote (520)	5/13/2005 4:37:27 PM
From: Doug R	of 1183

After Iran, Norway's next: The Norwegian government pared its forecast for 2005 oil production, including natural gas liquids (NGL), to 3.2 million barrels per day from an earlier projected 3.3 million bpd. The new figures came in a revised national budget for this year. The oil figure was cut due to continued delays in restoring the 130,000 bpd Snorre field to full capacity after a gas leak shut it in late 2004 and technical glitches on a few other fields, the energy ministry's spokeswoman said. "Oil production is expected to remain at this level over the next years, but then gradually decline," the Oil and Energy Ministry said in a statement with the revised 2005 budget, which showed a large oil-backed surplus. Norway is the world's third-biggest oil exporter. aftenposten.no

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