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Norway oil drop less than expected in September

Published Updated

imageOSLO: Norwegian oil production slipped less than expected in September, to 1.543 million barrels per day (bpd), the country's petroleum directorate said Wednesday.

The figure was 12 percent higher than official forecasts, albeit down on August's tally of 1.556 million bpd, for a year-on-year rise of 4.8 percent.

Natural gas sales meanwhile dropped slightly to 9.3 billion cubic metres (328 billion feet) last month from 9.6 billion in August.

Norway, which is not a member of the OPEC oil producers' cartel, is the world's fifth-largest oil exporter and also the third-largest gas.

Oil and gas jointly account for around half of the Scandinavian country's exports and a quarter of GNP.

Norway is also Western Europe's most important source of natural gas, according to the European Commission.

Copyright AFP (Agence France-Presse), 2015

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