Statoil threatens to move operations abroad
Statoil is threatening to move operations from Norway to other countries because of the new tax rules.
The partly state-owned oil company reacted strongly to the government's new rules for the taxation of oil operations abroad.
The change may cost Statoil billions more in taxes, according to the financial daily Dagens Næringsliv.
A note in the English-language quarterly report for the third quarter reveals that Statoil may incur a one-time effect of NOK 2.3 billion as a result of the change. This is far higher than previous estimates.
The company announced that outsourcing of jobs could be relevant as a consequence of the new tax rules.
- As a result of this change, it is natural that the group look again at the organization of the relevant companies to ensure our international competitiveness, says Finn Lexow, head of Statoil's tax department, to the newspaper.
Also from Aenergy:
- New fast-track project expected to recover 10 million barrels of oil
- Statoil extends three rig contracts for $1.6 billion
- Rigs queue up for Norwegian Continental Shelf work
The Norwegian energy giant is to drill a third well in Hoop, the northernmost NCS exploration area.
The energy giant cuts in Norway and invests over 1 billion kroner in Australia over the next three years.