Full Year Results 

Nostrum diverts and deteriorates

Nostrum diverts and deteriorates

‘Diversion’ is a loaded charge to make against a company. But scan through preliminary results for Nostrum Oil & Gas (NOG), and it’s hard to feel that its gloss on events adequately addresses the repeated resets of production targets. In the middle of 2014, we were told that GTU3 plant – and 100,000 barrels of oil-equivalent production a day (boepd) – was just over two years’ away. It’s now 2018, and the best assurance Nostrum can give us is that independent consultant Ryder Scott “assumes average production of 68,211 boepd” in 2020, and an indeterminate amount thereafter.

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