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Munich
Monday, February 6, 2023

Oil production grew 43% and gas production 21%

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Specifically, the latest data released by the CEP XXI realize that, in October, the crude oil production was 3 million m3which marked a 14.1% year-on-year increase2.1% month-on-month, and 17.9% compared to the same month in 2019. From January to October, production was also 13.9% higher than the same period in 2021.

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For her part, the Shale gas production increased 21.4% year-on-year, reaching its 18th month of growthwhile that of gas in general was 4,114 million m3playing a maximum level of production for a month of October since 2010growing 4.3% year-on-year, and accumulating in the period January to October 8.4% more than the same period of 2021. However, it decreased 5.2% compared to the same month of 2019, 0.6% with respect to September, and recorded the fifth consecutive drop without seasonality, while in relation specifically to conventional gas, it fell by 4% compared to last year

Finally, the report noted that Both monthly exports and imports of oil and gas and its derivatives grew year-on-year. On the one hand, exports grew 60.7% compared to October 2021, 100.9% compared to 2019, and 103.5% accumulated from January to October of the year compared to the same period last year. The most relevant exports were crude oil (+129.7%; 59.6% of the total) and gasoline (+47.5%; 9.7% of the total).

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For his part, imports increased 21% year-on-year and 88.6% compared to 2019, while from January to October they increased by 148.5% year-on-year. The most relevant imports were diesel (+194.4%; 41.6% of the total) and liquefied natural gas (LNG) (+133.1%; 24.3% of the total).

Source: Ambito

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