Bloomberg Tax
April 30, 2020, 12:52 PM

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

Stephen  Treloar
Stephen Treloar
Bloomberg News

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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