January 10, 2019 / 9:07 AM / 6 days ago

Norway cuts 2019 oil, gas output forecasts

STAVANGER, Norway, Jan 10 (Reuters) - Norway’s 2019 oil and gas output will be smaller than previously forecast, the Norwegian Petroleum Directorate (NPD) said on Thursday.

Oil output last year stood at 86.2 million cubic metres, missing a forecast of 90.2 million made a year ago, the regulator said. In 2019 it will likely decline to 82.2 million, below a previous forecast of 87.2 million.

Norway’s gas production last year stood at 119.3 billion cubic metres, missing a 121.2 billion forecast. In 2019 it will rise slightly to 119.5 billion, below a year-ago forecast of 121.4 billion. (Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Camilla Knudsen)

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