Norway seeks return to fiscal stability
Next year should see another change in the tax regime confirmed. The hope is that it will signal the country’s much-vaunted predictability is back
“Stability in the fiscal framework has always been the key strength of the Norwegian continental shelf (NCS). And it is especially important now when investing in an industry in transition in a volatile macro environment.” So said David Tonne, CFO of Norwegian producer Aker BP, on a Q3 results call. Norway has long been praised for the predictability of its, albeit high, tax regime. But, in mid-2020, the Norwegian parliament approved changes to the country’s fiscal terms providing accelerated recovery for investments and tax refunds for 2020 and 2021 spending—with the legislation also applying to new projects submitting development plans before the end of 2022. Then, at the start of Septembe
Also in this section
16 May 2024
Flat oil growth in 2024 highlights mounting industry problems
15 May 2024
Five years ago, Uzbekistan turned to a private company called Saneg to reverse the fortunes of its oil industry. Results so far are encouraging, and according to CEO Tulkin Yusupov, further progress is on the way
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix