Thursday, November 18, 2021

"Norway October Trade Surplus at Record High as Gas Sales Soar"

Following up on October 26's "Norway's Natural Gas Production: An Embarrassment Of Riches".

From Reuters via gCaptain, November 15:

Norway’s trade surplus rose to a record high in October as revenues from its offshore petroleum fields soared, led by a spike in the price of natural gas, national statistics agency (SSB) data showed on Monday.

The October surplus hit 84.5 billion Norwegian crowns ($9.73 billion), a rise of 60.7% from September, which had held the previous single-month record.

With a daily output of around four million barrels of oil equivalent, almost equally divided between oil and natural gas, Norway has been a winner (https://www.reuters.com/business/energy/norway-russia-reap-rewards-europes-flexible-gas-market-2021-09-24) from the spike in global energy prices.

In total, 67% of the country’s overall exports came from petroleum last month, the data showed....

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