EnergyWatch

Norwegian oil company sends USD billions back to the state

National Norwegian oil company Petoro made a solid profit on the recovery of the oil price in 2017. The firm will be sending billions of dollars back to the Norwegian Ministry of Finance.

Photo: PR-foto: Statoil

In many parts of the world, they talk about the oil industry as nearing an end. But in Norway, they can celebrate the results from the country's underground.

Norway's sovereign oil wealth fund, the Government Pension Fund Global (GPFG), reported record returns last week, and now the state-owned Norwegian oil company Petoro has good news for the nation.

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