Dividends from Statoil and the proceeds from sales of shares in Statoil and SDFI
interests are also paid in NOK.
Norges Bank will then willow currency from the Fund in Marknaden together with foreign exchange revenues from SDFI
Companies that buy SDFI
stakes will also face some uncertainty as to the future tax system, which will have a negative effect on their willingness to pay.
s foreign currency revenues are transferred every day via a foreign exchange portfolio in Norges Bank called the petroleum buffer , where they accumulate prior to final transfer to the GPFG once a month.
The increase is largely due to new fields coming on stream and to the acquisition of former SDFI
( State Direct Financial Interest) assets on Norwegian fields.
1999 2001 Government ownership in the oil industry has been reduced through the partial privatisation of Statoil and the sale of some SDFI
The investment figure includes this year's anticipated capital expenditure related to the newly acquired VAW, but does not reflect the actual acquisition itself nor a possible purchase of SDFI
It is an underestimate as the asset assessment of state enterprises and the SDFI
is based on the value at the time of the investment and not on market value.
The current combined share of Statoil and the SDFI
in petroleum production is slightly above 50 per cent, while Norsk Hydro's share is around 8 per cent.
is managed by Statoil on the state's behalf.
Both companies suggested a partial privatisation of Statoil and a reduction in government involvement through the SDFI
(State Direct Financial Interest).
was created in 1985 to channel a greater part of the oil-related operating surpluses to the budget, with the state-owned company Statoil acting as an operator on the SDFI