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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: T L Comiskey who wrote (10476)	5/11/2010 10:14:50 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24231

Norway '10 Oil Output Seen 2.2 Million B/D, -4.5% On Year -Ministry Publié le 11 Mai 2010 Copyright © 2010 Dowjones - By Lananh Nguyen Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Norway's 2010 oil production is forecast to decline 4.5% on year to 2.2 million barrels a day, the country's Ministry of Petroleum and Energy said Tuesday. The forecast output includes natural gas liquids and condensate, the ministry said in an emailed statement. "While the oil production is on decline, the gas production is increasing," the ministry said. Norway's gas sales in 2010 are forecast to reach 105 billion cubic meters, and are expected to increase in the coming years. Including oil exploration costs, Norway will invest NOK134 billion ($21.7 billion) in its petroleum industry in 2010, down 2.5% from 2009. The country also raised its forecast average price of Norwegian crude oil in 2010 to NOK475 a barrel ($77.11), up around NOK50 ($8.09) a barrel from its previous budget assumption. The higher forecast reflects rising oil demand, particularly in growing economies like China, the ministry said. easybourse.com