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Norway exports of crude oil, natural gas touch NOK 494.6b in 2014

Norway exports of crude oil, natural gas touch NOK 494.6b in 2014

OSLO: Norway’s exports of crude oil and natural gas amounted to NOK 494.6 billion in 2014, and accounted for 55.1 per cent of total merchandise exports. This is a decline of 6.1 per cent compared to 2013.

However, increase in exports of fish, metals and industrial machinery contributed to growth in mainland exports, which went up 6.5 per cent from 2013 to NOK 388.1 billion in 2014, according to Statistics Norway (SSB).

Natural gas exports totalled NOK 225 billion in 2014, down 9.5 per cent compared to 2013. The decrease was mainly due to lower natural gas prices, which as an annual average fell by 11 per cent compared to 2013. The export volume was 102.6 billion cubic metres; a drop of 1.2 per cent.