EnergyWatch

Norway has made this much on oil after 50 years

Although the oil price is at rock bottom, Norway is currently celebrating the country's 50th anniversary for the oil adventure which since 1966 has made the Norwegian population one of the most affluent in the world.

Before 1966, when Norway started operating in oil, the country had a GDP 25 percent lower than that of Scandinavian neighbor Sweden. Today, Norway's GDP is 30 percent higher than Sweden's.

This declaration came from Norway's Minister of Petroleum and Energy, Tord Lien, on the 50th anniversary for the Norwegian oil adventure. The anniversary is currently being celebrated with events including an official dinner in Oslo where the government will treat several of the industry's most important stakeholders who are all facing a critical industry climate with low oil prices and a widespread investment stop in the market.

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