Official information
Banner

The Norwegian Oil Fund worth NOK 5000 billion

The Norwegian Government Pension Fund Global, also known as the National Oil Fund has now reached the value of NOK 5000 billion, or USD 818 billion. This was announced Monday, 17 years after the Finance Department deposited the first NOK two billion in the Fund in 1996.

 

The Fund's value passed NOK 2000 billion in October 2007 and NOK 3000 billion in 2010. The value passed NOK 4000 billion in February this year.

Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global. NBIM manages the fund on behalf of the Ministry of Finance, which owns the fund on behalf of the Norwegian people. The ministry determines the fund’s investment strategy, following advice from among others NBIM and discussions in Parliament.

The ministry regularly transfers petroleum revenue to the fund. The capital is invested abroad, to avoid overheating the Norwegian economy and to shield it from the effects of oil price fluctuations.

The fund invests in international equity and fixed-income markets and real estate. The aim is to have a diversified investment mix that will give the highest possible risk-adjusted return within the guidelines set by the ministry.

(NRK/Press release)


Related Articles

Sami National Day celebrated

Saturday, February 6th is celebrated as the indigenous Sami People's Day in Norway and other Scandinavian countries. The day is official flag day in Norway, and the Sami flag is flown on all official buildings. ..Read more...

Norway to provide about NOK 10 billion to Syria

At the donor conference for Syria in London on Thursday, Prime Minister Erna Solberg said Norway will provide about NOK 10 billion in emergency aid to Syria and its neighbouring countries over the next four years...Read more...

Rolls-Royce wins large Norwegian deal

Rolls-Royce has announced a $2.7bn (£1.9bn) order to manufacture and service 19 new Boeing 787 Dreamliner engines for the low fare airline, Norwegian, BBC reports...Read more...

Norway provides NOK 10 million to fight Zika virus

  Minister of Foreign Affairs Børge Brende says Norway will provide NOK 10 million for WHO efforts to fight the Zika virus...Read more...

Norway condemns terrorist attack in Pakistan

- I condemn the terrorist attack on Bacha Khan University in northwestern Pakistan Wednesday in the strongest possible terms, says Norwegian Minister of Foreign Affairs Børge Brende...Read more...

Fisheries: Stable catch for 2015

In 2015, Norwegian vessels delivered 2.3 million tonnes of fish, crustaceans and molluscs, which was about the same as the year before. The landed value of catch came to NOK 16.4 billion; up 14 per cent from 2014. ..Read more...

Norway's King and Queen for 25 years

King Olav V of Norway died on the evening of 17 January 1991. At that same moment, Crown Prince Harald became Norway’s new king: King Harald V. ..Read more...

Food prices fell 3.0 per cent last month

The Consumer Price Index (CPI) dropped 0.4 per cent from November to December 2015, mostly due to lower food prices. The year-to-year growth in the CPI was 2.3 per cent in December, down 0.5 percentage points from November...Read more...

New record for Norway seafood exports

Norway exported seafood worth NOK 74.5 billion in 2015. This is 8 per cent, or NOK 5.8 billion, more than the record year of 2014...Read more...

The Prime Minister's New Year's speech

Refugees and migrants, in Norway and the World were main topics of Prime Minister Erna Solberg's speech on radio and TV to the nation on New Year's Day...Read more...

A Happy New Year to all our readers!!

  We at The Norway Post wish all our readers around the world a most Happy and Prosperous New Year!! We thank you for your support and encouragement in 2015 and look forward to serving you in 2016! ..Read more...

Norway provides additional humanitarian aid

Norway is making an additional contribution of NOK 180 million to support refugees in Syria’s neighbouring countries, with a particular focus on children and young people, says Foreign Minister Børge Brende...Read more...

Norway and Kenya to cooperate in Oil for Development

Kenya has requested assistance from Norway in developing its petroleum sector. Through the programme Oil for Development, Norway will support Kenya in improving management of its natural resources and protection of the environment...Read more...

We wish all our readers "God Jul"!!

We here at the Norway Post send our best wishes to all our readers around the world this Christmas, from a Norway where most of us did not get a White Christmas this year. Only in the far North, a few regions are covered in the traditional "Julesnø"...Read more...

Norway welcomes return of opposition to South Sudan

On Monday, representatives of the opposition returned to the South Sudanese capital, Juba, for the first time since the conflict in South Sudan broke out in December 2013...Read more...

Oslo Børs Benchmark Index_GI (OSEBX)

 

Local News in Brief

Social Networking

Statoil
Norges Rederiforbund

.Partners

Bedin Front Right Top
Statistics
NORGE.NO/DIFI