Norway tops natural resource management ranking

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Norway placed first in a new international ranking of countries’ management of natural resource extraction and wealth, closely beating out Chile, Britain, and Canada for the top spot.

The New-York-based Natural Resource Governance Institute (NRGI) also said that over four-fifths of the world’s major mining, oil and gas-producing nations fail to productively manage their natural resources due to inadequate corruption and transparency standards. NRGI ranked 81 countries, 66 of which had “weak, poor or failing” oversight of extraction activities. Canada took fourth place, and the United States took fifth. Norway is known for its $960 billion sovereign wealth fund, which uses oil and gas profits to fund green energy ventures and social services for its citizens.

Oilprice.com

30. 6. 2017