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The NCS is barely halfway through its oil and gas story, according to NPD
Category: Energy
STAVANGER — The Norwegian Petroleum Directorate’s forecasts show that, after a minor decline in 2019, oil and gas production will increase from 2020 and up to 2023. Overall production will then approach the record year of 2004. “The activity level on the Norwegian Shelf is high. Production forecasts for the next few years are promising […]
Source: WorldOil
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Norway Cuts 2019 Oil Output Forecast to Lowest in 30 Years
Category: Energy
Norway’s oil regulator reduced its forecast for production this year, predicting crude output could drop to the lowest in three decades before recovering in 2020. Oil output of 82.2 million cubic meters, or 1.42 million barrels a day, would be the lowest since 1988. The forecast compares to actual production of 86.2 million last year, and is […]
Source: Bloomberg
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Norway Oil Lobby Hikes Spending Forecasts, Sees 16% Jump in 2019
Category: Energy
Norway’s oil lobby raised its forecast for investments in the country’s petroleum industry as cost cuts during a three-year downturn made projects more profitable and able to withstand even the recent slump in crude prices. Oil and gas companies operating in Norway will invest 184.5 billion kroner ($21.5 billion) in 2019, the Norwegian Oil and […]
Source: Bloomberg
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Arundo Analytics Initiates Numerous Strategic Partnerships in 2018
Category: Energy
Arundo Analytics, a software company enabling advanced analytics in heavy industry, today announced significant achievements in 2018 including initiating numerous strategic partnerships, adding prominent board members and expanding its international presence. “Asset-heavy companies can no longer afford to make business decisions based on an incomplete view of their organization,” said Tor Jakob Ramsøy, CEO and […]
Source: Business News Wire
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Equinor strengthens its position in the Norwegian Sea
Category: Energy
Equinor and Faroe Petroleum have agreed on a number of transactions in the Norwegian Sea and the North Sea region of the Norwegian Continental Shelf (NCS). These transactions are calibrated as a balanced swap when it comes to value with no cash consideration. “The net effect of our agreement with Faroe is to upgrade Equinor’s […]
Source: World Oil
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