NORWAY'S oil industry looks set to pick up the bill after the country's new minority coalition government, with a Labour Party and Centre Party alliance at its core, was forced to grant concessions to the Socialist Left Party to get its 2022 budget through parliament. Talks to form a majority coalition government collapsed after September elections, partly because of demands from the Socialist Left for more aggressive policies to phase out Norwegian reliance on fossil fuels. The Socialist Left announced that it is ready to support the government's national budget after securing a 28% increase in the carbon tax paid by oil and gas producers and winning assurances that Norway's 26th exploration licencing round will not be held next year. However, the annual award of licences in pre-defined exploration areas will be held as usual.
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