Norway Oil Lobby Says Government Tax Measures Aren’t Good Enough

Proposal for direct depreciation could strengthen liquidity, but the effect of the reduction in the uplift undermines the creation of a profitable basis for new projects and new activity, Norwegian Oil and Gas Association’s Knut Thorvaldsen says in a statement on its website.

• Says the proposed reduction in the uplift will weaken profitability for new projects significantly compared with the industry’s proposal
• NOTE: The Norwegian Oil and Gas Association represents more than 100 companies associated with oil and gas activities on the Norwegian continental shelf

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Stephen Treloar in Oslo at streloar1@bloomberg.net

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