Norway publishes third EITI report

image The report states that the government’s revenues from the petroleum industry amounted to 263 billion NOK in 2010. The reconciliation of the reported payments showed a total discrepancy of around 1,2 billion NOK between companies and the government.

 

 

According to Deloitte, these discrepancies are mainly due to:

  • Companies have omitted interest on taxes
  • Government has omitted interest on fees
  • Government has omitted amounts and therefore reported incompletely
  • Companies have reported wrong amounts
  • Companies have included taxes other than Petroleum taxes
  • Companies have reported based on the accrual principle rather than cash principle
  • Companies and government have included taxes and fees related to counterparties which are not subject to the reporting requirement

The reporting was completed in the autumn of 2011 and includes payments made in 2010.

The first report was completed in 2009, regarding payments made in 2008, thus making this the third year that licensees and governmental bodies in Norway report payments from the petroleum activities, based on the EITI principle.

PWYP Norway has been in the EITI multi-stakeholder group since the beginning.
More information about EITI (in Norwegian)