Gas Production Plunges 12.6% as Europe Heads into Winter

Norway’s oil and gas production declined sharply in September, with natural gas output falling 12.6% from August, according to preliminary figures released Tuesday by the Norwegian Offshore Directorate (NOD). Total petroleum production averaged approximately 3.77 million barrels of oil equivalent per day (boepd), down 10.4% month-on-month and 4% below the directorate’s forecast. The decline comes at a sensitive time for European energy markets, with the winter heating season approaching and Norway remaining the continent’s largest…