Norm prices for Norwegian crude oil 1st quarter 2004
Historical archive
Published under: Bondevik's 2nd Government
Publisher: Ministry of Petroleum and Energy
Press release | Date: 22/06/2004 | Last updated: 24/10/2006
Press release
No.: 73e/04
Date: 22.06.04
Contact: Sissel Edvardsen, +47 22 24 61 09
Norm prices for Norwegian crude oil 1st quarter 2004
The Petroleum Price Board (PPB) has set norm prices for Norwegian crude oil lifted in the 1st quarter of 2004. The norm prices are used as tax reference prices in the taxation of the crude oil producers on the Norwegian continental shelf and are set in arrears for every quarter.
PPB has decided not to set norm prices for Grane, Forties and Varg for the 1st quarter of 2004.
PPB has reserved its decision concerning norm prices for Jotun and Balder for the 1st quarter of 2004.
The Petroleum Price Board has set
the following norm prices in NOK per barrel with
30 days of credit for the 1st quarter of 2004:
January | February | March | |
Brent Blend (FOB Sullom Voe)2) | 212,91 | (214,08) | 235,43 |
Draugen (FOB buoy)1) | 217,00 | 219,63 | 240,31 |
Ekofisk (FOB Teesside) | 212,91 | 214,42 | 237,52 |
Glitne (FOB ship)1) | 203,37 | 203,32 | 222,55 |
Gullfaks A+B (FOB buoy)1) | 217,34 | 218,59 | 238,92 |
Gullfaks C (FOB buoy)1) | 217,34 | 216,85 | 240,31 |
Heidrun (FOB Mongstad/delivered Tetney) | 205,08 | 205,75 | 227,08 |
Njord (FOB ship)1) | 219,04 | 219,28 | 243,79 |
Norne (FOB ship)1) | 214,62 | 217,55 | 239,61 |
Oseberg (FOB Sture) | 214,62 | 215,81 | 239,61 |
Snorre (FOB buoy)1) | 217,34 | 217,89 | 239,96 |
Statfjord (FOB buoy)1) | 217,34 | 217,89 | 239,96 |
Tordis (FOB buoy)1) | 217,34 | 216,85 | 240,31 |
Troll (FOB Mongstad) | 211,55 | 211,30 | 232,30 |
Åsgard (FOB ship)1) | 218,70 | 224,14 | 242,40 |
1>)Final norm prices are to be set when the final freight costs are known.
2>) PPB has not decided upon a norm price for Brent in February (no sale of Norwegian Brent)
By using an average exchange rate for the months of the quarter, the equivalent prices in USD are:
January | February | March | |
Brent Blend (FOB Sullom Voe)2) | 31,25 | (30,85) | 33,80 |
Draugen (FOB buoy)1) | 31,85 | 31,65 | 34,50 |
Ekofisk (FOB Teesside) | 31,25 | 30,90 | 34,10 |
Glitne (FOB ship)1) | 29,85 | 29,30 | 31,95 |
Gullfaks A+B (FOB buoy)1) | 31,90 | 31,50 | 34,30 |
Gullfaks C (FOB buoy)1) | 31,90 | 31,25 | 34,50 |
Heidrun (FOB Mongstad/delivered Tetney) | 30,10 | 29,65 | 32,60 |
Njord (FOB ship)1) | 32,15 | 31,60 | 35,00 |
Norne (FOB ship)1) | 31,50 | 31,35 | 34,40 |
Oseberg (FOB Sture) | 31,50 | 31,10 | 34,40 |
Snorre (FOB buoy)1) | 31,90 | 31,40 | 34,45 |
Statfjord (FOB buoy)1) | 31,90 | 31,40 | 34,45 |
Tordis (FOB buoy)1) | 31,90 | 31,25 | 34,50 |
Troll (FOB Mongstad) | 31,05 | 30,45 | 33,35 |
Åsgard (FOB ship)1) | 32,10 | 32,30 | 34,80 |
1>)Final norm prices are to be set when the final freight costs are known.
2>) PPB has not decided upon a normprice for Brent in February (no sale of Norwegian Brent)