Output at Norway oil firms exceeds forecasts despite price slump
Tue, Aug 09, 2016 - 5:50 AM
RISING ABOVE EXPECTATIONS: Even as spending on future oil production dwindles, current output at Norway oil companies has risen, thanks to more efficient operations and past investments that have just started delivering barrels.
FOR Norway, the collapse in crude prices has a silver lining: output has exceeded expectations every month for the past two years.
That's likely to continue as oil companies boost efficiency and pump at full pace as revenue dwindles, according to the head of Petoro AS, the...