Corporate Responsibility

Our corporate responsibility is about conducting our business in an ethically sound, sustainable and responsible manner.

Petoro's role and responsibility

Petoro manages the State’s Direct Financial Interest in petroleum activities on the Norwegian continental shelf. We shall ensure the highest possible return on the state’s investments and the greatest possible value creation from the portfolio.

Vision and responsibility

Our vision is to be a driving force on the Norwegian continental shelf. We take responsibility for conducting our business ethically, sustainably and responsibly.

We follow the principles of good corporate governance – both as a participant in licenses and as a partner in joint ventures.

We recognize that climate challenges make it necessary to limit human impact on the climate system, and will contribute to ensuring that the oil and gas industry on the Norwegian continental shelf is a leader in meeting climate challenges. We conduct our business in a sustainable manner that minimizes negative impact on nature and the environment.

We do not accept any form of corruption or other misconduct.

We do not receive improper monetary gifts or other benefits, nor do we offer such to gain an advantage privately, for Petoro or others.

We follow our business ethics guidelines.

We perform our duties with high integrity and honest conduct, and show respect for other people, authorities and business associates, as well as for safety, health and the environment.
We do not discriminate on the basis of gender, religion, national or ethnic origin, social group or political opinion.

We have procedures for reporting reprehensible conduct, and expect our business partners to follow the same ethical standards.

Petoro is financed through government appropriations and cannot provide financial support for social purposes.

We report annually on corporate responsibility in the annual report, based on GRI standards and ILO conventions.