En Español

Very usefull links


News links




Dow Jones

Oil price



Views and News





Norway cuts payments 60 pct to Brazil after Amazon forest destruction rise


By Reuters Staff

Petroleumworld 12 11 2017

Norway has slashed its annual payments to Brazil to protect the Amazon rainforest by 60 percent to $42 million after a rise in forest destruction in 2016, but welcomed signs that losses have slowed this year, Norway's Environment Ministry said on Friday.

Norway makes annual payments to Brazil as part of a long-term billion-dollar programme to curb the loss of Amazon rainforest to slow global warming. Forests are a giant store of carbon dioxide, the main man-made greenhouse gas, but are being cut down for logging and to make way for farms.

Norway paid 350 million crowns ($42.16 million) for Brazil's performance in 2016, the ministry said. The payments were down about 60 percent from an average 925 million crowns in the period from 2009-16.

“When deforestation goes up, payments go down,” Environment Minister Vidar Helgesen said in a statement.

“I am however pleased to notice that initial deforestation figures for 2017 show a reduction. If confirmed, this would lead to increased payments next year,” he said.

In June, Norway told visiting Brazilian President Michel Temer that it was set to cut payments.

Norway, which has huge wealth from oil and natural gas produced in the North Sea, has been the biggest foreign donor to protect tropical forests from Brazil to Indonesia.

Brazil's deforestation climbed to 7,900 sq km (3,000 sq miles) in the year to June 2016 - about the size of Greece's Mediterranean island of Crete - from 6,200 sq km in 2015.

Annual losses in recent years, however, are below the 19,000 sq km lost per year in the decade to 2005.

$1 = 8.3014 Norwegian crowns

Reporting by Alister Doyle; Editing by Peter Graff from Reuters.

reuters.com 12 08 2017

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels



Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.