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by slaw 1195 days ago
Norway uses US dollar for oil trade.

https://www.investopedia.com/terms/p/petrodollars.asp

1 comments

Petrodollar is just a term. It does not mean that the contracts are in US Dollar. The measurement is in NOK.

"In Consideration of the assignment described under Article 2.1 above, Buyer shall pay to Seller a post tax amount of NOK [zz] ([zz]), ref. Article 5."

https://offshorenorge.no/globalassets/dokumenter/naringspoli...

Also the measurement is NOK: https://www.norskpetroleum.no/en/production-and-exports/expo...

> Norwegian Oil and Gas Recommended Model Agreement for sale and purchase ..

NOK is recommended. That document doesn't say what currency is used for actual transfers.