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ET Norway to spend record sum of oil wealth in 2010 Norway will spend a record amount of its vast oil wealth next year to help offset a yawning budget deficit caused by the global financial crisis, the government announced Tuesday.
Tags: oil wealth, Norway
A statement posted on the Web site of the National Oil Company identified the companies as ConocoPhillips, Marathon Oil Co and Amerada Hess, and said the national Oil and Gas Affairs Council agreed during a Feb. 28 meeting to "continue discussions with...
Tags: Libyan, Muammar al-Gaddafi, oil wealth
We are now at the threshold when higher pensions will require higher budget spending," Kudrin said...The proposal, part of a fiscal plan until 2023, also forecasts that the budget will fall into a deficit starting in 2014 and suggests that Russia might...