Figures on state revenues from the Norwegian petroleum sector arepublicly available. The sector is audited by the Office of the Auditor Generalof Norway. The Office has an independent status vis-à-vis government administration and reports the results of its auditing and monitoring activities to the Norwegian parliament.
The Norwegian Government is a strong promoter of increased transparency in oil, gas and mining revenues, and has participated in the Extractive Industries Transparency Initiative (EITI) since 2003.
The EITI is an international initiative between states, companies and NGOs to promote transparency in the flow of revenues from companies to host country governments, not least through a set of criteria for transparent reporting on income and other benefits. The purpose of greater transparency is to enable citizens to make informed demands for the fair and sustainable use of income generated through the exploitation of natural resources. Accountable governments and informed populations will contribute to greater political stability, increased energy security and an improved investment climate.
Openness about the tax revenues received from companies operating on the Norwegian continental shelf is a fundamental principle in Norway’s management of its petroleum resources and, in accordance with the standards Norway is promoting in the EITI, the Norwegian Government and the petroleum sector are seeking to make this
information more accessible.
The Ministry of Foreign Affairs would like to thank the Office of the Auditor General for presenting its work.
The information on Norway’s resource management and petroleum revenues
contained in this booklet has been taken from Facts – The Norwegian Petroleum
Sector 2006, which can be downloaded from the Ministry of Petroleum and
Energy’s webpages at http://www.odin.dep.no/oed/english/bn.html.
The illustrations in this booklet are taken from the Media Gallery of
Norsk Hydro ASA at www.hydro.com.
To read more about : Transparency in the Norwegian Petroleum Sector