Preparatory work

In the autumn of 2002, the Government appointed a committee to propose ethical guidelines for the Government Petroleum Fund. The committee, which was chaired by Professor Hans Petter Graver, presented its findings on 25 June 2003.

The Government presented ethical guidelines in line with the proposal of the Graver Committee in the Revised National Budget 2004.

The Parliament approved the proposed guidelines, and the Ministry of Finance made them effective from 1 December 2004.