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normally based on a reference price in the spot market. The price of oil
from the British Brent field is a reference for crude oil from the North Sea
As far as the situation looks now, Norway is going to possess 1% of the European
actions, says the director of the Government Pension Fund-Global, Yngve Slyngstad. From
2009, the Fund will be able to possess 10% of any company (see: Aftenposten, January 30,
2008, p. 2). 16
© Ifri F. Harbo / The European Gas and Oil Market basin. The different oil types are often marketed together as a blend, out of
commercial and technical considerations. Both oil quality and flexibility as
regard to loading and storage influence the actual sale price. The
Norwegian authorities stipulate a norm price based on the companies'
sales, which is used in the calculation of the petroleum tax.
Most oil companies on the Norwegian continental shelf are parts of
corporations with a diversified global business portfolio. Produced
petroleum is, therefore, largely sold to associated companies. It can often
be a difficult task for the petroleum tax authorities to assess whether pr...
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- Summer '14
- European Union, ........., Peak oil, The European Gas and Oil Market