The Norwegian state received record revenues from oil and gas last year, largely as a result of the war in Ukraine, which pushed natural gas prices to record highs in Europe, according to official data released Monday.

According to Statistics Norway (SSB), state revenues of NOK 1,457 billion (€131 billion) were related to hydrocarbons, “by far the largest figure ever recorded,” SSB said. By comparison, this is almost three times the 498 billion kroner revenue recorded in 2021.

As a result of a significant reduction in Russian gas supplies and an increase in its own exports, Norway became the largest natural gas supplier in Europe in 2022, while benefiting from the fact that the price of natural gas reached a record high last summer.

These exceptional revenues have led to the Scandinavian country being classified as a “military profiteer”, rejected by the authorities in Oslo.

After an aid of one billion euros last year, the Norwegian government has decided to provide Ukraine with civil and military aid worth 75 billion kroner (6.8 billion euros) for the period 2023-2027, i.e. 15 billion kroner per year.

The Norwegian state collects oil and gas revenues through taxes on oil companies, the direct involvement it has in oil and gas fields and infrastructure (pipelines, etc.), and dividends paid by the energy group Equinor, to which Norwegian the state owns 67% of the shares. (Agerpress)