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Norway uses US dollar for oil trade. https://www.investopedia.com/terms/p/petrodollars.asp https://www.investopedia.com/terms/p/petrodollars.asp
by slaw 4y ago
Norway uses US dollar for oil trade.
https://www.investopedia.com/terms/p/petrodollars.asp https://www.investopedia.com/terms/p/petrodollars.asp
- PinguTS 4y agoPetrodollar is just a term. It does not mean that the contracts are in US Dollar. The measurement is in NOK. "In Consideration of the assignment described under Article 2.1 above, Buyer shall pay to Seller a post tax amount of NOK [zz] ([zz]), ref. Article 5." https://offshorenorge.no/globalassets/dokumenter/naringspolitikk/skatt-og-fiskalt/modellavtaler/02-sales-and-purchase-agreement-spa.pdf https://offshorenorge.no/globalassets/dokumenter/naringspoli... Also the measurement is NOK: https://www.norskpetroleum.no/en/production-and-exports/exports-of-oil-and-gas/ https://www.norskpetroleum.no/en/production-and-exports/expo...
- slaw 4y ago> Norwegian Oil and Gas Recommended Model Agreement for sale and purchase .. NOK is recommended. That document doesn't say what currency is used for actual transfers.