Comparing this year's second quarter to the same period of 2021, Norwegian state revenue from oil and gas operations increased with NOK 95bn (EUR 9.67bn), reports domestic news agency NTB.

NOK 122bn of the state's total Q2 income of NOK 633bn stemmed from the nation's oil and gas sector.

Jarand Rystad, founder of analysis firm Rystad Energy, tells EnergyWatch that Norway's big tax package ratified by parliament at the outset of the Covid-19 pandemic in 2020 has ensured major cash flow for the state, adding that the policy has essentially been "a big success".

"The state would have forfeited roughly NOK 170bn had it not been for those fields [that received investment after the policy implementation]," says Jarand Rystad.

Norway's consolidated state revenue increased by 95.2% against the second quarter last year.

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