Welligence North Sea | Norway’s latest tax change – a win-win for all stakeholders?

October 6, 2022

The Norwegian parliament passed a revised upstream petroleum tax in June 2022 that will be effective from 1 January 2022. The proposed changes to the tax code were announced on 31 August 2021 with consultations completed in December 2021. The impact of this change clearly varies depending on if we consider the asset level or, more importantly, the corporate position.