Professor: Tax pressure pushed Total out of Norway

Total's plans to establish its regional headquarters in Denmark has provoked concerns in Norway. "What we now see is that the major companies are pulling out of Norway," says a professor of oil economics to Dagens Næringsliv.

Photo: Ritzau Scanpix/Claus Bonnerup.

Total's plans to locate its regional headquarters for Denmark, the Netherlands, and Norway in Copenhagen after its acquisition of Maersk Oil has prompted concern in Norway, where the French oil company is a major player.

According to Norwegian daily Dagens Næringsliv, Petter Osmundsen, a professor in petroleum economics, believes that the announcement is a reflection of the tax pressure which exists in Norway and which has led many large companies to focus more activity on Denmark and the UK.

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