Norway’s fiscal stability comes under strain
The country faces challenges to the much-vaunted tax regime certainty on which it has built exploration success
Norway's 78pc tax rate on income from hydrocarbon production is steep by international standards. But the country has always stressed the stability of its fiscal regime and its balance and neutrality—where the government shares a significant amount of the risk in return for its big take on the reward and the drill/no-drill decision is not impacted by tax concerns-as attractive to explorers. That stability and neutrality is now coming under increased strain. In part, the pressure is from a more aggressive Norwegian environmental lobby, which is targeting specific elements of the tax code to further its agenda of reducing activity on the Norwegian continental shelf (NCS). But elements within t
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
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy