Norm prices for Norwegian crude oil 4rd quarter 2009
The Petroleum Price Board (PPB) has set Norm Prices for Norwegian crude oil lifted in the 4rd quarter of 2009. 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 Forties and Varg for the 4rd quarter of 2009.
The Petroleum Price Board has set the following Norm Prices in NOK per barrel with
30 days of credit for the 4rd quarter of 2009:
| October | November | December | |
| Brent Blend (FOB Sullom Voe) | 410.51 | 432.46 | 427.46 |
| Alvheim (FOB loading buoy)1) | 415.59 | 440.64 | 436.08 |
| Ekofisk (FOB Teesside) | 414.18 | 436.69 | 431.77 |
| Grane (FOB Sture) | 405.15 | 427.38 | 416.81 |
| Gullfaks (FOB loading buoy)1)2) | 414.46 | 438.95 | 434.36 |
| Heidrun (FOB Mongstad/deliverd Tetney) | 401.20 | 424.28 | 418.83 |
| Jotun (FOB ship)1) | 406.28 | 426.25 | 425.73 |
| Norne (FOB ship)1) | 420.95 | 440.64 | 432.35 |
| Oseberg (FOB Sture) | 415.59 | 437.26 | 431.77 |
| Statfjord (FOB loading buoy)1)3) | 413.62 | 436.13 | 430.33 |
| Troll (FOB Mongstad) | 422.36 | 443.74 | 439.54 |
| Volve (FOB loading buoy)1) | 398.38 | 421.46 | 412.50 |
| Åsgard (FOB ship)1) | 408.54 | 432.18 | 426.59 |
By using a monthly average exchange rate:
| October | November | December | |
| NOK/USD | 5.6428 | 5.6420 | 5.7531 |
The equivalent prices in USD are:
| October | November | December | |
| Brent Blend (FOB Sullom Voe) | 72.75 | 76.65 | 74.30 |
| Alvheim (FOB loading buoy)1) | 73.65 | 78.10 | 75.80 |
| Ekofisk (FOB Teesside) | 73.40 | 77.40 | 75.05 |
| Grane (FOB Sture) | 71.80 | 75.75 | 72.45 |
| Gullfaks (FOB loading buoy)1)2) | 73.45 | 77.80 | 75.50 |
| Heidrun (FOB Mongstad/deliverd Tetney) | 71.10 | 75.20 | 72.80 |
| Jotun (FOB ship)1) | 72.00 | 75.55 | 74.00 |
| Norne (FOB ship)1) | 74.60 | 78.10 | 75.15 |
| Oseberg (FOB Sture) | 73.65 | 77.50 | 75.05 |
| Statfjord (FOB loading buoy)1)3) | 73.30 | 77.30 | 74.80 |
| Troll (FOB Mongstad) | 74.85 | 78.65 | 76.40 |
| Volve (FOB loading buoy)1) | 70.60 | 74.70 | 71.70 |
| Åsgard (FOB ship)1) | 72.40 | 76.60 | 74.15 |
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 ship)1) | 20.10.2009 | 413.85 | ||||
| 16.11.2009 | 417.72 | |||||
| 14.12.2009 | 397.80 | |||||
| Njord (FOB ship)1) | 07.10.2009 | 386.68 | ||||
| 27.11.2009 | 438.86 | |||||
| Draugen (FOB ship)1) | 02.10.2009 | 384.86 | ||||
| 11.10.2009 | 395.32 | |||||
| 30.10.2009 | 433.73 | |||||
| 14.11.2009 | 429.40 | |||||
| 30.11.2009 | 435.20 | |||||
| 13.12.2009 | 407.02 | |||||
| 29.12.2009 | 443.33 | |||||
The equivalent prices in USD are
| Date of shipment | ||||||
| Glitne (FOB ship)1) | 20.10.2009 | 74.15 | ||||
| 16.11.2009 | 74.55 | |||||
| 14.12.2009 | 69.05 | |||||
| Njord (FOB ship)1) | 07.10.2009 | 67.95 | ||||
| 27.11.2009 | 77.80 | |||||
| Draugen (FOB ship)1) | 02.10.2009 | 66.65 | ||||
| 11.10.2009 | 70.35 | |||||
| 30.10.2009 | 76.00 | |||||
| 14.11.2009 | 76.70 | |||||
| 30.11.2009 | 77.15 | |||||
| 13.12.2009 | 70.65 | |||||
| 29.12.2009 | 76.45 | |||||
Norm prices form the basis for the taxation of the crude oil producers’ earnings on the Norwegian Shelf. When deciding the norm prices, the Petroleum Price Council shall according to the Petroleum Tax Act, take into account relevant factors such as price and sales data from the companies and perform an assessment of the oil market.
1) The Norm Prices for the shipments from loading buoys have not been adjusted for freight costs in the permit licenses.
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.
Source: Ministry of Petroleum and Energy
