Production figures from Norway show average daily oil production down about 5 percent year-on-year, a national regulator said in Wednesday report. The Norwegian Petroleum Directorate released production figures for November , showing an average daily production of 1.46 million barrels of oil. “The oil production is 5 percent below the NPD’s prognosis for November and 5 percent below the oil production in November last year,” the agency said in its report. Major oil companies from BP to Marathon have trimmed back their expectations as oil prices continue to lose value. The price of oil, nearly 50 percent below June values, is at a point where some drillers may no longer be able to make a profit. Noreco, a Norwegian energy company focused on North Sea oil operations, said Monday its financial […]