Norway Falls From #3 To #5 Among World's Oil Producers In 2006, Says Energy Minister - Bloomberg

[hatrack]

Feb. 8 (Bloomberg) -- Norway dropped to fifth place among the world's crude oil exporters last year as the nation's North Sea production declined, the Norwegian energy ministry said. The United Arab Emirates replaced Norway as the world's third-largest exporter after Saudi Arabia and Russia, Sissel Edvardsen, a spokeswoman for the ministry, said today in an interview. Iran currently holds fourth place, she said.

Edvardsen declined to give specific figures for each nation's export levels in 2006 and said the ranking was based on ``figures we use at the ministry.'' Norway's crude oil output fell 7.8 percent last year as companies such as Statoil ASA and Norsk Hydro ASA struggled to replace dwindling oil supplies at aging North Sea fields. The nation is developing natural-gas deposits including Ormen Lange in the Norwegian Sea, set to make Norway the world's second- largest gas exporter after it starts production in October.

``Norway's becoming a gas nation instead of an oil nation,'' said Bjoern Inge Toennessen, an analyst at DnB NOR Markets in Oslo. ``This won't make much of a difference to the industry, since hydrocarbons are hydrocarbons. It's just a bit more complex selling gas, since oil pretty much sells itself.''


Oil output in Norway totaled 136.6 million standard cubic meters last year, or about 2.35 million barrels a day, according to figures published by the country's Petroleum Directorate yesterday. Almost all the oil is exported. By comparison, Saudi Arabia pumped an average 9.24 million barrels a day of crude oil in 2006, according to Bloomberg estimates. Iran produced 3.86 million barrels a day and the United Arab Emirates pumped 2.56 million barrels a day, the estimates showed.

EDIT

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aoS6HuXM_pqk

[JuniperLea]

1. "United Arab Emirates pumped 2.56 million barrels a day"

I wonder how this lines up with years past... iow, I wonder if all the "missing" Iraqi oil magically went their way...

[Strelnikov_]

2. The US has been the #3 producer for years

Not that far behind Russia and KSA.

Just don't think about exporting any of that SUV go-juice though, pardner.

2005
All in Mbbl/dy

Saudi Arabia 11.1
Russia 9.5
United States 8.2
Iran 4.2


Well looky at who is No. 4. With all that saber rattlin goin on, whoda thunk that!

http://www.eia.doe.gov/emeu/cabs/topworldtables1_2.html

[GliderGuider]

3. Headline correction - that should read "Exporters", not "Producers".

USA is #3 in production, but it's an oil importer.