June 8, 2020 / 1:17 PM / 2 months ago

Norway parliament gives more tax relief to oil firms, NTB news reports

OSLO, June 8 (Reuters) - Norway’s parliament has agreed to give additional tax breaks to the oil industry on top of those proposed by the minority government in a bid to spur investment and protect jobs, news agency NTB reported on Monday.

Equinor and other oil firms, hit by low crude prices as demand faltered amid the COVID-19 pandemic, had argued the government’s plan to postpone tax payments of 100 billion Norwegian crowns ($10.8 billion) was insufficient.

A news conference on the topic is scheduled for 1330 GMT, the governing Conservative Party said a statement, without elaborating. ($1 = 9.2474 Norwegian crowns) (Reporting by Nerijus Adomaitis, editing by Terje Solsvik and Victoria Klesty)

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