Røkke receives 13 billion from the state

Kjell Inge Røkke.Photo: Lise Åserud / NTB scanpix

Røkke receives 13 billion from the Norwegian state

Hess Norge, an oil company acquired by Kjell Inge Røkke’s Aker BP, received NOK 13 billion in cancellation fee wrote Dagens Næringsliv newspaper.


The refund was foreseen in the acquisition wrote the newspaper.

The background to the fee is a scheme which implies that oil companies receive the tax value of the loss if a company is shut down.

The spokesman, Ole Johan Faret of Aker BP, said the tax balance was well communicated in the press release when Hess Norge was bought up.

The tax system was explained in a press release on Monday.

“If a company on the Norwegian continental shelf chooses to terminate the business, the company may claim to be paid the tax value of uncovered losses and unused free income related to the business. Before 2017, eight companies have demanded such payments, totalling NOK 13.9 billion.”


© NTB scanpix / #Norway Today