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News

Changes to the Act on Taxation of Hydrocarbon Extraction and the Hydrocabons Act approved by Althingi

9.9.2011

Bills that were necessary pre-requisites to the Second Licensing Round on the Icelandic Conintental Shelf have now been approved by Althingi.

The fact that these bills did not pass prior to the summer recess of Althingi resulted in the postponement of the Licensing Round by two months as was announced on 21 June 2011.

These bills have now been approved by Althingi.

The National Energy Authority welcomes the changes that have been made to the Act on Taxation of Hydrocarbon Extraction and the Hydrocarbons Act, as the changes were a necessary part in the preparations for the upcoming Licensing Round.