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Value of Norway’s oil and gas fields drops by $50B

Jun. 13, 2016 10:57 AM ETEquinor ASA (EQNR) StockEQNRBy: Carl Surran, SA News Editor1 Comment
  • The value of Norway's state-owned oil and gas fields has fallen by about a third in two years, or by more than $50B, mostly reflecting lower oil and gas prices, the country's government says.
  • A new report estimates the value of Norway's direct ownership in oil and gas fields at 810B kroner ($97.9B), down from 1.23T kroner in a similar estimate two years ago.
  • Last year, Norway government's derived half of its oil and gas revenue from production taxes, 43% from direct ownership in oil and gas assets, and 7% from dividends paid by Statoil (STO +0.4%), in which the government owns a 67% stake; government-owned fields contributed 27% of Norway's total oil and gas output, or ~1M boe/day.

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