Norway to reduce oil money spending in 2022

To make ends meet in its 2022 state budget, Norway decides to withdraw NOK 322.4bn from the oil fund – a smaller sum than in 2020 and 2021.

Photo: Equinor ASA

Norway's government is allowed to use 3 percent of the country's Government Pension Fund Global, commonly known as the oil fund, to cover a structural deficit in the state budget.

The government has now chosen to withdraw NOK 322.4bn (EUR 32.8bn) of a potential NOK 337.2bn from the fund, reports Danish newspaper Berlingske based on Norwegian media E24, which has published a series of illustrations to put the enormous sum into perspective.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Equinor has never made this much money

The Norwegian oil giant soars skyward with its best adjusted earnings item on record following a recovery in commodity prices. Though it remains important to monitor fluctuations, CEO warns.

GE loses USD 151m from wind division

Uncertainty, supply chain pressure and delays among customers all factor into dwindling profits from onshore wind for the US-based OEM, still showing losses on offshore wind and now downgrading its full-year guidance.

Further reading

Related articles

Trial banner

Latest News

See all jobs