Norway’s state oil and gas revenues reached an all-time high last year, taking into account the increase in energy prices caused by the war in Ukraine, according to data released by the State Statistics Office on Monday.
Norway’s state oil and gas revenues have reached 1.5 trillion kroner (135.6 billion euros) in 2022, compared to 498 billion kroner (45.02 billion euros) a year ago.
Norway became Europe’s largest supplier of natural gas last year as Russia cut gas supplies.
Norway’s oil and gas revenue rose last year thanks to record high natural gas prices on the European market during the summer.
Norway derives income from oil and gas reserves through taxes applied to oil companies, direct participation in oil and gas fields and infrastructure, as well as dividends paid by the energy company Equinor, in which the state owns 67% of the shares.
