Norway's Oil Fund hits the NOK 1.1 trillion mark

The National Petroleum Fund was worth NOK 1.09 trillion at the end of the first quarter, an increase by NOK 74 billion, or 7 per cent during the quarter. This was announced by the Norwegian National Bank. The National Petroleum Fund was worth NOK 1.09 trillion (US$ 170 million) at the end of the first quarter, an increase by NOK 74 billion, or 7 per cent during the quarter.

This was announced by the Norwegian National Bank, which manages the fund.This means NOK 240,000 in savings for each and every Norwegian.

The fund, which was set up in 1996, receives part of the surplus from Norway's income from the country's oil and gas production, and will act as a savings bank for Norway's future generations for the day when nation's oil and gas resources run out.

(NRK/Norway Post)
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