05.08.2016 - Declining oil revenue could prompt Norway to tap into its $876 billion SWF
Norway’s state-owned oil and gas fields contributed 29% less to the government's oil revenue in the first half from a year earlier, reflecting depressed prices, state-owned oil company Petoro AS said Thursday. Declining oil revenues mean Norway may have to tap into its $876 billion sovereign-wealth fund this year to cover its expenses. The Norwegian government owns stakes in a large number of oil and gas assets on Norway’s continental shelf, in partnerships with companies such as Statoil ASA and Lundin Petroleum. The state ownership is managed by Petoro, which transfers most of its revenue to the government...............................................Full Article: Source
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