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Norway Sees Oil And Gas Tax Revenue Triple To Record $89 Billion

Norway expects to receive a record $89.5 billion (884 billion Norwegian crowns) in oil and gas tax revenue for 2022, triple the previous record in 2021, thanks to soaring gas prices last year, the Norwegian Tax Administration said in an estimate on Thursday. The administration has revised up its estimates for the petroleum tax revenue by 20% from an earlier projection, and the latest figure implies the oil and gas tax revenue has tripled from the previous record year, 2021.

The high natural gas prices drove the record tax revenue from petroleum…

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