Article | Last updated: 07/10/2021 | Ministry of Petroleum and Energy
The Norwegian Ministry of Petroleum and Energy collects information about sale of crude, natural gas liquids (NGLs) and natural gas from the Norwegian shelf. From 1 July 2011 the companies that submit reports to the Ministry shall report their sales through the License2Share.
Petroleum Price Board – in brief
To calculate the taxable income for oil companies i Norway, the Petroleum Price Council (PPB) sets tax reference prices, also known as norm prices. The main principle for setting norm prices is that the norm price should reflect the price that could have been achieved between independant parties. Specific regulations govern the procedures for setting norm prices.
PPR meets every quarter to set norm prices for the previous quarter. Generally, each crude gets a specfic norm price. PPB collects information from a variety of sources, including companies operating on the Norwegian shelf. PPB also has meetings with the companies before the final norm price is set. Companies may also appeal PPBs decision to the Ministry of Petroleum and Energy.
In cases where the PPB does not set norm prices, the actual achieved sale price will be the tax reference price. This applies to some crudes and natural gas liquids. For natural gas the actual price is used for tax purposes.
We note that the norm prices will also be made available here.
Normi Prices 2021
Norm Prices 2020
Norm Prices 2019
Norm Prices 2018
Norm Prices 2017
Norm Prices 2016
Norm Prices 2015
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Reporting of crude, natural gas and NGL sales
The Norwegian Ministry of Petroleum and Energy collets information about sale of crude, natural gas liquids (NGLs) and natural gas from the Norwegian shelf. From 1 July 2011 the companies that submit reports to the Ministry shall report their sales through the License2Share. To get access to License2Share, contact License2Share Service Desk: Phone: +47 51222622 , Email: email@example.com
Report of crude and NGLs sales shall be done through specific excel template files. These can be found at License2Share.
The Secretariat of the Petroleum Price Board has made a guide for the reporting of crude oil and natural gas liquids: A guideline for electronic reporting of sale of crudes and NGLs.