Norway: Petroleum Market 2020

Petroleum Market Size in Norway

The revenue of the petroleum market in Norway amounted to $X in 2017, going up by X% against the previous year. In general, petroleum consumption continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2011, when it surged by X% against the previous year. Over the period under review, the petroleum market reached its peak figure level of $X in 2008; however, from 2009 to 2017, it stood at a somewhat lower level.

Petroleum Production in Norway

In 2017, approx. X tonnes of petroleum were produced in Norway; stabilizing at the previous year. Overall, petroleum production continues to indicate a measured contraction. The pace of growth was the most pronounced in 2014, with an increase of X% year-to-year. Norway petroleum production peaked of X tonnes in 2007; however, from 2008 to 2017, it failed to regain its momentum.

Petroleum Exports from Norway

Petroleum exports from Norway totaled X tonnes in 2017, picking up by X% against the previous year. Overall, petroleum exports continue to indicate a slight deduction. The most prominent rate of growth was recorded in 2011, when it surged by X% against the previous year. Norway exports peaked of X tonnes in 2015; however, from 2016 to 2017, it failed to regain its momentum.

In value terms, petroleum exports stood at $X in 2017. In general, petroleum exports continue to indicate a temperate descent. In that year, the petroleum exports attained their peak level of $X. From 2012 to 2017, growth of the petroleum exports stood at a somewhat lower level.

Petroleum Exports by Country from Norway

In 2017, the U.S. (X tonnes), followed by Russia (X tonnes), Singapore (X tonnes), the Netherlands (X tonnes), South Korea (X tonnes) and India (X tonnes) represented the main exporters of petroleum, together generating X% of total exports. China (X tonnes), Belgium (X tonnes), Saudi Arabia (X tonnes), the United Arab Emirates (X tonnes), Canada (X tonnes) and Malaysia (X tonnes) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the U.S. (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Russia ($X) and Singapore ($X) were the countries with the highest levels of exports in 2017, with a combined X% share of total exports.

The U.S. (+X% per year) experienced the highest growth rate of exports, among the main exporting countries over the last decade, while the other leaders experienced more modest paces of growth.

Petroleum Export Prices by Country in Norway

The petroleum export price in Norway stood at $X per tonne in 2017, growing by X% against the previous year. In general, petroleum export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2011, an increase of X% y-o-y. Over the period under review, the export prices for petroleum attained its maximum level of $X per tonne in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

There were significant differences in the average export prices amongst the major exporting countries. In 2017, the country with the highest export price was the United Arab Emirates ($X per tonne), while the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the United Arab Emirates (+X% per year), while the other leaders experienced more modest paces of growth.

Petroleum Imports into Norway

In 2017, the amount of petroleum imported into Norway amounted to X tonnes, picking up by X% against the previous year. The total import volume increased an average annual rate of +X% from 2007 to 2017; however, the trend pattern indicated some noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2015, with an increase of X% year-to-year. Norway imports peaked in 2017, and are likely to see steady growth in the near future.

In value terms, petroleum imports amounted to $X in 2017. In general, the total imports indicated a moderate expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Over the period under review, the petroleum imports reached its peak figure level of $X in 2013; however, from 2014 to 2017, it stood at a somewhat lower level.

Petroleum Imports by Country into Norway

The U.S. (X tonnes) and Singapore (X tonnes) represented roughly X% of total imports of petroleum in 2017. It was followed by the Netherlands (X tonnes), generating X% share of total imports. Mexico (X tonnes), Belgium (X tonnes), Germany (X tonnes), Malaysia (X tonnes), France (X tonnes), China (X tonnes), the UK (X tonnes), Indonesia (X tonnes) and Canada (X tonnes) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Malaysia (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Singapore ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2017, with a combined X% share of total imports. These countries were followed by Mexico, Germany, Belgium, France, the UK, Malaysia, Indonesia, China, Canada and Norway, which together accounted for a further X%.

In terms of the main importing countries , Malaysia (+X% per year) experienced the highest rates of growth with regard to imports, over the last decade, while the other leaders experienced more modest paces of growth.

Petroleum Import Prices by Country in Norway

The petroleum import price in Norway stood at $X per tonne in 2017, rising by X% against the previous year. In general, petroleum import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008, when it surged by X% year-to-year. Over the period under review, the import prices for petroleum reached its maximum level of $X per tonne in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in the UK ($X per tonne) and Germany ($X per tonne), while China ($X per tonne) and Canada ($X per tonne) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Singapore (+X% per year), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform