THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY

Today Norway is a highly developed country with a predominantly service sector in the economic structure. However, oil continues to play a major role in the life of the state and society as one third of state revenues is based on oil resources, while export of raw materials totals more than a half o...

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Autores principales:	D. A. Talagaeva, A. A. Trashchenko
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2015
Materias:	norway north sea oil welfare state norwegian oil deposits norwegian pipelines government pension fund of norway International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/ed0edfef54ae4d8a8d9be0f2e07ad34a
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spelling	oai:doaj.org-article:ed0edfef54ae4d8a8d9be0f2e07ad34a2021-11-23T14:51:02ZTHE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY2071-81602541-909910.24833/2071-8160-2015-4-43-263-270https://doaj.org/article/ed0edfef54ae4d8a8d9be0f2e07ad34a2015-08-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/2871https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099Today Norway is a highly developed country with a predominantly service sector in the economic structure. However, oil continues to play a major role in the life of the state and society as one third of state revenues is based on oil resources, while export of raw materials totals more than a half of the country's overall export. However, it is not quite possible to cover the entire oil sector in Norway within the scope of one piece of work due to the differences in the characteristics of each of the three sources of the country's oil. In this context, the resources of the Norwegian and Barents Seas are associated with the problems of the Arctic and the Arctic law. At the same time, the North Sea is the most regulated area, besides it is the so called "homeland" of the oil production in Norway. Thus, this paper analyzes the role of the North Sea oil in the economy of Norway, which is the basis of its economic prosperity. Due to its oil revenues, Norway was once able to build a welfare state. Also the unique system of accumulation of oil revenues, which is reflected in the functioning of the Government Pension Fund of Norway, is a relevant issue as well. The article deals with the emergence of the oil industry in the country from a historical perspective, and analyzes its current state, including a detailed analysis of the existing fields and pipelines. Furthermore, the authors propose the estimation of state revenues from the oil production in the North Sea.D. A. TalagaevaA. A. TrashchenkoMGIMO University Pressarticlenorwaynorth sea oilwelfare statenorwegian oil depositsnorwegian pipelinesgovernment pension fund of norwayInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 4(43), Pp 263-270 (2015)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	norway north sea oil welfare state norwegian oil deposits norwegian pipelines government pension fund of norway International relations JZ2-6530
spellingShingle	norway north sea oil welfare state norwegian oil deposits norwegian pipelines government pension fund of norway International relations JZ2-6530 D. A. Talagaeva A. A. Trashchenko THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY
description	Today Norway is a highly developed country with a predominantly service sector in the economic structure. However, oil continues to play a major role in the life of the state and society as one third of state revenues is based on oil resources, while export of raw materials totals more than a half of the country's overall export. However, it is not quite possible to cover the entire oil sector in Norway within the scope of one piece of work due to the differences in the characteristics of each of the three sources of the country's oil. In this context, the resources of the Norwegian and Barents Seas are associated with the problems of the Arctic and the Arctic law. At the same time, the North Sea is the most regulated area, besides it is the so called "homeland" of the oil production in Norway. Thus, this paper analyzes the role of the North Sea oil in the economy of Norway, which is the basis of its economic prosperity. Due to its oil revenues, Norway was once able to build a welfare state. Also the unique system of accumulation of oil revenues, which is reflected in the functioning of the Government Pension Fund of Norway, is a relevant issue as well. The article deals with the emergence of the oil industry in the country from a historical perspective, and analyzes its current state, including a detailed analysis of the existing fields and pipelines. Furthermore, the authors propose the estimation of state revenues from the oil production in the North Sea.
format	article
author	D. A. Talagaeva A. A. Trashchenko
author_facet	D. A. Talagaeva A. A. Trashchenko
author_sort	D. A. Talagaeva
title	THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY
title_short	THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY
title_full	THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY
title_fullStr	THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY
title_full_unstemmed	THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY
title_sort	role of the north sea oil resources in norway’s economy
publisher	MGIMO University Press
publishDate	2015
url	https://doaj.org/article/ed0edfef54ae4d8a8d9be0f2e07ad34a
work_keys_str_mv	AT datalagaeva theroleofthenorthseaoilresourcesinnorwayseconomy AT aatrashchenko theroleofthenorthseaoilresourcesinnorwayseconomy AT datalagaeva roleofthenorthseaoilresourcesinnorwayseconomy AT aatrashchenko roleofthenorthseaoilresourcesinnorwayseconomy
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THE ROLE OF THE NORTH SEA OIL RESOURCES IN NORWAY’S ECONOMY

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