Norway’s oil production continues to fall
Norway's oil production slipped to a preliminary 2.46 mm bpd on average in February from 2.49 mm in January, and the
tally is a marked drop from previous years.
Production in February 2005 was 2.657 mm bpd, and in February 2004 it was 2.988 mm, according to figures from the Norwegian Petroleum Directorate (NPD).
Even if gas production during the same period has shown a steady rise, the decrease in oil production of 500,000 bpd
over two years is dramatic.
Oil companies predict that the current situation is likely to last through the year.