Looking for a specific product?

Make a search for products & suppliers, articles & news.

Record cash flow from oil activity

Petoro's accounts for the first half 2012 shows the highest highest-ever net cash flow to the government from the State’s Direct Financial Interest (SDFI) on the Norwegian continental shelf (NCS).

This totalled NOK 84.5 billion, up 24 per cent from first half of last year, despite the fact that oil prices fell below USD 90 per barrel for a short period in the early summer.

The second quarter net cash flow was NOK 41.6 billion, up 22 per cent from the second quarter of 2011.

The strong results are mainly due to higher sales volumes and prices.

Head of Petoro, Kjell Pedersen, regards the production result as an indication that the steep decade-long decline in Norwegian oil output is now leveling off.

The state-owned limited company Petoro AS manages the State’s Direct Financial Interest (SDFI) on behalf of the State. Petoro is the licensee for, not the owner of, the SDFI shares on the Norwegian Continental Shelf.

The company's main objective is to maximise the economic value of the state's oil and gas portfolio on the basis of sound business principles.

Associated companies:


Related news

Latest news

Use Lamiflex for faster heating cable installation

The heating floor is placed directly underneath the wooden floor,

DNV GL partners with the EU and Government of India to bring offshore wind to the Indian market

the world’s largest resource of independent energy experts...

Food safety: ISO 22000:2018 has been published

The landscape for food safety and food chains is transforming.

Celebrates 30 amazing years

After 30 years in business, AKVA group’s subsidiary Plastsveis welcomed employees, 

New Catapult Centers for us

Bergen Technology Transfer, 

HM King Harald and HM Queen Sonja visited Sørfold

Elkem Salten met Their Majesties King Harald and Queen Sonja of Norway

TechnipFMC and DOF Subsea announce the delivery of Skandi Recife and commencement of contract with Petrobras

Skandi Recife has state of the art pipelay and marine technology. 

DOF Subsea awarded FPSO hook-up contract in the Atlantic region

DOF Subsea has been awarded ...

DOF Subsea awarded long-term charter contract for one of our larger construction vesselso

DOF Subsea has been awarded...