Norway is adjusting its tax regime for the oil and gas sector
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
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
