Norm prices for Norwegian crude oil 1st quarter 2006
Historical archive
Published under: Stoltenberg's 2nd Government
Publisher: Ministry of Petroleum and Energy
Press release | Date: 04/07/2006 | Last updated: 11/11/2006
The normprices 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. (04.07.06)
Press release
No.: 89/06E
Date: 04.07.2006
Contact: Trude Larstad, +47 22 24 61 07
Norm prices for Norwegian crude oil 1st quarter 2006
The Petroleum Price Board (PPB) has set normprices for Norwegian crude oil lifted in the 1st quarter of 2006. The normprices 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 normprices for Forties and Varg for the 1st quarter of 2006. PPB has reserved its decision concerning normprices for Balder for the 1st quarter of 2006.
The Petroleum Price Board has set the following norm prices in NOK per barrel with 30 days of credit for the 1st quarter of 2006:
January | February | March | |
Brent Blend (FOB Sullom Voe)2) | 418.68 | (405.74) | 412.17 |
Draugen (FOB loading buoy)1) | 423.66 | 408.44 | 413.50 |
Ekofisk (FOB Teesside) | 421.34 | 404.72 | 410.84 |
Glitne (FOB ship)1) | 387.14 | 365.08 | 385.95 |
Grane (FOB Sture) | 364.90 | 344.30 | 360.07 |
Gullfaks Blend (FOB loading buoy)1)3) | 423.33 | 408.77 | 413.83 |
Heidrun (FOB Mongstad/delivered Tetney) | 404.41 | 389.87 | 397.57 |
Jotun (FOB ship)1) | 424.33 | 410.12 | 409.85 |
Njord (FOB ship)1)5) | 434.36 | 409.79 | 419.47 |
Norne (FOB ship)1) | 427.98 | 409.11 | 415.49 |
Oseberg (FOB Sture) | 424.33 | 408.10 | 414.83 |
Statfjord (FOB loading buoy)1)4) | 428.31 | 410.12 | 413.50 |
Troll (FOB Mongstad) | 422.34 | 406.07 | 411.51 |
Åsgard (FOB ship)1) | 434.62 | 416.87 | 420.13 |
1) Final norm prices are to be set when the final freight costs are known.
2) No normprice for Brent in February.
3) Gullfaks Blend includes Gullfaks A+B. Gullfaks C and Tordis. Adjustments for freight costs will be made for each field separately.
4) Statfjord includes Snorre. Adjustment for freight cost will be made for each field separately.
5) Normprices for Glitne in February and Njord in January are related to Brent around bill of lading. The corresponding exchange rate is also related to bill of lading.
By using an average exchange rate >5) for the months of the quarter:
January | February | March | |
NOK/USD | 6.6405 | 6.7510 | 6.6372 |
5) Normprices for Glitne in February and Njord in January are related to Brent around bill of lading. The corresponding exchange rate is also related to bill of lading.
The equivalent prices in USD are:
January | February | March | |
Brent Blend (FOB Sullom Voe)2) | 63.05 | (60.10) | 62.10 |
Draugen (FOB loading buoy)1) | 63.80 | 60.50 | 62.30 |
Ekofisk (FOB Teesside) | 63.45 | 59.95 | 61.90 |
Glitne (FOB ship)1) | 58.30 | 53.60 | 58.15 |
Grane (FOB Sture) | 54.95 | 51.00 | 54.25 |
Gullfaks Blend (FOB loading buoy)1)3) | 63.75 | 60.55 | 62.35 |
Heidrun (FOB Mongstad/delivered Tetney) | 60.90 | 57.75 | 59.90 |
Jotun (FOB ship)1) | 63.90 | 60.75 | 61.75 |
Njord (FOB ship)1)5) | 65.00 | 60.70 | 63.20 |
Norne (FOB ship)1) | 64.45 | 60.60 | 62.60 |
Oseberg (FOB Sture) | 63.90 | 60.45 | 62.50 |
Statfjord (FOB loading buoy)1)4) | 64.50 | 60.75 | 62.30 |
Troll (FOB Mongstad) | 63.60 | 60.15 | 62.00 |
Åsgard (FOB ship)1) | 65.45 | 61.75 | 63.30 |
1) Final norm prices are to be set when the final freight costs are known.
2) No normprice for Brent in February.
3) Gullfaks Blend includes Gullfaks A+B. Gullfaks C and Tordis. Adjustments for freight costs will be made for each field separately.
4) Statfjord includes Snorre. Adjustment for freight cost will be made for each field separately.
5) Normprices for Glitne in February and Njord in January are related to Brent around bill of lading. The corresponding exchange rate is also related to bill of lading.