Equinor, an oil giant, donated to the Treasury a large sum of 114 million crowns. Finance Minister Siv Jensen has reason to be very happy.
114 billion NOK!
The year 2018 brought the Norwegian state a great surprise, which the Minister of Finance, Siv Jensen, was especially pleased with. The oil giant Equinor donated a gigantic sum of money to the Treasury. It was not a small amount, as much as 114 billion crowns. The head of the Eldar Sætre concern believes that the state authorities, as well as its citizens, will appreciate this action. 
Where does this amount of money come from?
The amount transferred to the State Treasury by Equinor flows into the budget in the form of taxes and dividends. Every year an oil tycoon feeds Norwegian budget with taxes, which constitute 78% of their income. This means that the company paid CZK 2018 billion in taxes in 79 alone. It doesn't end with taxes because Equinor also pays dividends to all its shareholders every quarter. Norway holds as much as 67% of the shares in the company, which is why I receive the appropriate part of the dividends, which amounted to CZK 2018 billion in 35 alone.
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High financial result
The amount that Equinor transferred to the State Treasury in 2018 is dictated by the very large amount of crude oil produced. In addition, the company not only increased oil production, but also reduced its extraction costs. It is these factors that translated into a very large increase in the company's profitability.
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Production will increase, but not everyone is happy about it
The oil giant announces that oil production will increase and will be about 3 percentage points higher by 2025. All of this will happen thanks to the huge Johan Svedrup oil field in the North Sea, which does not yet provide any oil. Unfortunately, there are many people in Norway who are very skeptical about oil extraction in Norway. However, it cannot be denied that oil production gives a lot of jobs, and its positive impact on the development of the economy is another great plus.
Minister of Finance and all citizens Norway has a reason to be happy. Business Equinor transferred a gigantic sum of money to the State Treasury, NOK 114 billion! Read in the above article why the oil giant transferred such funds to the state and what its plans are for the coming years!
