UPDATE 1-Norway’s October trade surplus jumps 61% to record high

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OSLO, Nov 15 (Businesshala) – Norway’s trade surplus hit a record high in October as revenue from its offshore oil and gas fields soared, data from the National Statistics Agency (SSB) showed on Monday.

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October’s surplus hit 84.5 billion Norwegian crowns ($9.73 billion), a 60.7% increase from September, which had held the previous month’s record.

With a daily production of about four million barrels of oil equivalent, almost equally divided between oil and natural gas, Norway has been the winner here from a spike in global energy prices.

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Data shows that 67% of the country’s total exports last month came from petroleum.

Norway’s biggest company, state-controlled oil and gas producer Equinor, reported its strongest quarterly result in nine years last month, with operating income of $9.8 billion for the July-September period. ($1 = 8.6838 Norwegian Crown) (Reporting by Terje Solsvik, Editing by Gvladis Foche and Ed Osmond)

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