European Gas and Oil market

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Unformatted text preview: e. Available on: <> The export value of petroleum products amounted to more than NOK 511 billion in 2006. In 2007, the state’s net cash flow from the petroleum sector was NOK 319 billion, and around 295 of that has been allocated to the Government Pension Fund-Global.15 As an important net exporter of oil, Norway shares common interests with the Organisation of the Petroleum Exporting Countries (OPEC) in the oil market, but OPEC membership has not been an issue for Norway. Norway is also a member of the International Energy Agency (IEA). Sales of Norwegian crude oil A main principle of the Norwegian marketing and sales policy has been that the sale of Norwegian oil shall be carried out by commercial companies, and be based on business criteria within the general framework established by the authorities. This means that the producers on the shelf sell crude oil at market conditions. The oil is transported by pipeline to onshore terminals or buoy-loaded to tankers. The price depends on the situation in the oil market and the quality of the oil. The crude oil pr...
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This document was uploaded on 03/30/2014.

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