How much does Norway earn from oil?
The current ordinary company tax rate is 22 %, and the special tax rate is 56 %. In 2022, Norway’s tax revenues from petroleum activities is estimated to NOK 537 billion.
Does Norway benefit from oil and gas reserves?
Norway is an important supplier of oil and gas to the global market, and almost all oil and gas produced on the Norwegian shelf is exported. Company and government revenues from sales of oil and gas have played a crucial role in creating the modern Norwegian society.
How much is the Norwegian oil fund?
Since Tangen was cleared to take over the oil fund in August 2020, its value has soared to 11.4 trillion Norwegian kroner ($1.3 trillion).