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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Sharing wealth: Reflections from Norway

Posted on 27 September 2011

Norway’s sovereign wealth fund is $550 billion compared to Alaska’s Permanent Fund of $40 billion. While much of Alaska’s oil is developed with the expertise of international oil companies, Norway created its own oil production company, Statoil that also enters into joint ventures with international oil companies.
The Norwegian State makes a financial investment in production projects through a state-owned company Petoro. All businesses in Norway are taxed at 28 percent of profits, while offshore oil and gas projects are taxed at 50 percent, equaling a 78 percent tax rate on profits……………………………………….Full Article: Source


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