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Managing Resource Abundance and WealthThe Norwegian Experience$
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Jonathon W. Moses and Bjørn Letnes

Print publication date: 2017

Print ISBN-13: 9780198787174

Published to Oxford Scholarship Online: June 2017

DOI: 10.1093/oso/9780198787174.001.0001

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The Norwegian Petroleum Administration

The Norwegian Petroleum Administration

(p.58) 4 The Norwegian Petroleum Administration
Managing Resource Abundance and Wealth

Jonathon W. Moses

Bjørn Letnes

Oxford University Press

This chapter establishes the broad parameters for oil management. It considers the threat of the Resource Curse, and what can be done to address the challenges of corruption, and the imbalance of power between states, international oil companies, and domestic interests (including national oil companies). In particular, the chapter begins by discussing the relationship between politics and economics and between states and firms (including the Obsolescing Bargaining Mechanism), and the utility of separating responsibility for policymaking, regulation, and operational or commercial activities. The latter part of the chapter introduces Norway’s unique institutional solutions to these challenges, that is, the three-part division of administrative responsibility that is central to the Norwegian model, and the institutions where they reside (e.g., the Ministry of Petroleum and Energy, the Norwegian Petroleum Directorate, and Statoil).

Keywords:   Obsolescing Bargaining Mechanism, policymaking, regulation, commercial, national oil companies, Resource Curse

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