Via Canada's The Deep Dive, February 5:
Production will decline between 10% and 20% this year at Norway’s Johan Sverdrup oil field, marking a shift for the North Sea asset that has driven European supply expansion since 2019, Equinor announced Wednesday.
Chief Executive Officer Anders Opedal revealed the forecast during a media briefing alongside fourth-quarter results. The field pumped an average 712,000 barrels per day last year, according to loading programs compiled by Bloomberg....
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“We’ve been able to postpone the decline for a long time,” Opedal said. “This year we anticipate a decline of more than 10%, but well below 20%.”
Johan Sverdrup supplies about 33% of Norway’s crude production and ranks as the third-largest field on the Norwegian continental shelf. Equinor shares dipped as much as 1.2% in Oslo following the announcement.
The output decline underscores concerns about global supply shortfalls after a period of oversupply. Meeting declining production from mature fields requires annual investment of $540 billion, according to International Energy Agency estimates....
....MUCH MORE
And the story at The Deep Dive I was originally going for:
Alberta Oil Production Hits Record 4.1 Million Barrels Daily in 2025
Even at $50/bbl that's a lot of money. I'm not sure Alberta actually needs Ottawa for much of anything.
Related January 20 - It Appears The Province Of Alberta Is Preparing To Quit The Canadian Union
