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Vol 21, No. 21 Week of May 22, 2016
Providing coverage of Alaska and northern Canada's oil and gas industry


Norway doing well under low oil prices

Ambassador Aas describes $800 billion Sovereign Wealth Fund; Norway kept taxes on citizens, uses those to fund most public services

TIM BRADNER

For Petroleum News

How did Norway do it? This northern European nation is rich in oil and gas, like Alaska, and has its own version of a Permanent Fund. But despite the worldwide collapse in oil prices Norway is thriving today. Its savings fund, which Norwegians call their Sovereign Wealth Fund, has a value of $800 b....

    [additional news subjects in this story]

Taxes on citizens kept in Norway

Draw on fund limited

Mainly offshore

Technical capabilities developed


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