Norm prices for Norwegian crude oil 4th quarter 2008
Historical archive
Published under: Stoltenberg's 2nd Government
Publisher: Ministry of Petroleum and Energy
Press release | No: 48/09 | Date: 17/04/2009
The Petroleum Price Board (PPB) has set norm prices for Norwegian crude oil lifted in the 4th quarter of 2008.
The Petroleum Price Board (PPB) has set norm prices for Norwegian crude oil lifted in the 4th quarter of 2008. 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 Alvheim, Forties, Varg and Volve for the 4th quarter of 2008.
Due to the extensive price volatility during the 4th quarter the PPB decided to set norm prices on a daily basis for this quarter. Daily norm prices in the 4th quarter better reflect the price at which petroleum could have been traded at between independent parties in a free market than a monthly average price for this quarter.
The norm prices were set with the following price differentials between Brent Blend and the different crude qualities for a cargo loaded in the respective month:
|
Oktober |
November |
Desember |
Draugen (FOB loading buoy)1) |
1.45 |
3.20 |
-0.90 |
Ekofisk (FOB Teesside) |
1.05 |
2.30 |
0.45 |
Grane (FOB Sture) |
-7.80 |
-5.00 |
-4.80 |
Gullfaks Blend (FOB loading buoy)1)3) |
2.95 |
4.00 |
2.50 |
Heidrun (FOB Mongstad/delivered Tetney) |
-1.75 |
-1.85 |
-1.50 |
Jotun (FOB ship)1) |
0.50 |
1.65 |
0.20 |
Norne (FOB ship)1) |
3.75 |
4.55 |
1.40 |
Oseberg (FOB Sture) |
1.55 |
3.10 |
1.15 |
Statfjord (FOB loading buoy)1)3) |
1.20 |
2.85 |
1.25 |
Troll (FOB Mongstad) |
3.30 |
3.55 |
3.15 |
Åsgard (FOB ship)1) |
1.60 |
2.35 |
-1.10 |
The following norm prices have been set for Njord and Glitne in NOK per barrel. related to Brent around bill of lading:
|
Date of shipment |
| |
Glitne (FOB loading bouy)1) |
02.10.2008 |
|
516.85 |
|
21.10.2008 |
|
429.23 |
|
02.11.2008 |
|
383.30 |
|
18.11.2008 |
|
321.09 |
|
11.12.2008 |
|
271.65 |
Njord (FOB loading bouy)1) |
17.10.2008 |
|
453.40 |
|
24.11.2008 |
|
350.86 |
|
21.12.2008 |
|
265.18 |
The equivalent prices in USD are:
|
Date of shipment |
| |
Glitne (FOB loading bouy)1) |
02.10.2008 |
86.80 | |
21.10.2008 |
62.95 | ||
02.11.2008 |
57.65 | ||
18.11.2008 |
45.90 | ||
|
11.12.2008 |
|
38.85 |
Njord (FOB loading bouy)1) |
17.10.2008 |
69.05 | |
24.11.2008 |
49.80 | ||
|
21.12.2008 |
|
38.10 |
1) Final norm prices are to be set when the final freight costs are known.
2) Gullfaks Blend includes Gullfaks A+B. Gullfaks C and Tordis. Adjustments for freight costs will be made for each field.
3) Statfjord includes Snorre. Adjustment for freight cost will be made for each field.