Crude oil price resulted in growth
Energy and manufacturing;Energy and manufacturing
ogibkoms, Turnover in oil and gas, manufacturing, mining and electricity supply, industrial turnover, domestic market, export market, valueEnergy , Oil and gas , Manufacturing, mining and quarrying , Energy and manufacturing

Turnover in oil and gas, manufacturing, mining and electricity supplyOctober 2000



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Crude oil price resulted in growth

Overall revenues within oil and gas extraction were NOK 64.5 billion in September and October 2000 an increase of above 60 per cent compared with the corresponding period previous year. The revenues within manufacture decreased about 5 per cent, and especially the oil platforms and modules had a reduction.

The revenues of oil and gas reached a record high level in September and October 2000. The increase was mainly due to higher prices of crude oil. According to the London Spot Market the average price of crude oil (Brent Blend) was NOK 300 ($32.6) in September and NOK 291 ($31.0) in October. This was 70 per cent more than in the corresponding months in 1999. The weekly adjusted figures of the index of production showed an increase of 3.6 per cent from September 1999 to September 2000 within oil and gas extraction. The revenues in this industry increased above 9 per cent in October 2000.

Decline in the revenues within manufacturing

The enterprises within manufacturing had a turnover of about NOK 83 billions, down approximately 5 per cent compared with September and October 1999. Lower revenues of oil platforms pulled down the overall revenues, but a lower turnover of food products, beverages and tobacco also contributed to the decrease. An other important industry that caused a decline in revenues was refined petroleum products.