OSLO: The value of crude oil exports from Norway amounted to NOK 13.2 billion in January 2015. This is less than half the value from the same month last year, when crude oil to the value of NOK 29.1 billion was exported.
This is the lowest export value of crude oil since November 2001,Statistics Norway reports. The decrease is mainly due to a weakening of the oil price from NOK 671 to NOK 371 from January 2014 to January 2015. This is a decrease of 44.7 per cent. A total of 35.5 million barrels of crude oil were exported in January 2015; a decline of 7.9 million barrels from the corresponding month last year. Bad weather on the continental shelf in January played a major role in causing the low production volumes.
Exports of natural gas amounted to NOK 24.1 billion in January; a decrease of 2 per cent compared to January 2014. A total of 9.7 billion cubic metres of natural gas in gaseous state were shipped abroad – an increase of 4.4 per cent from January the previous year.
