Advertize
Banner
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

The IMF satisfied with the Norwegian economy

In its annual asessment, the International Monetary Fund concludes that the Government's economic program is well adapted to the subdued growth in the Norwegian economy. (Photo: Finance Minister Siv Jensen)..Read more...

Kristoff also wins stage two of Tour des Fjords

Alexander Kristoff secured the second stage win in the Tour des Fjords on Thursday, after he won the opening stage the day before. Second was Jasper Stuyven (Trek Factory Racing)...Read more...

Norway funds migrant reception centre in Greece

The authorities in Greece and Norway have agreed to use funding from the EEA and Norway Grants to set up a new reception centre on the island of Lesvos, as part of Norway’s contribution to alleviating the Mediterranean migrant crisis. ..Read more...

Cycling: Kristoff wins stage 1 of Tour des Fjords

Norwegian biker Alexander Kristoff (Katusha) won the opening stage of Tour des Fjords in Western Norway on Wednesday. His lead-out man Marco Haller took second place...Read more...

More humanitarian aid to Myanmar

Foreign Minister Børge Brende says the Norwegian government is granting another NOK 10 million in humanitarian aid to the Rakhine state in Myanmar...Read more...

Oslo Conference on Safe Schools

The Ministry of Foreign Affairs is hosting an international conference in Oslo from 28 to 29 May entitled ‘Protecting Education from Attack’...Read more...

Joint military exersice in the North

Norway is lead nation when nearly 100 fighter aircraft from nine different nations this week are participating in the military exersice Arctic Challenge 2015...Read more...

King Harald visits Homer, Alaska

On his officiaal visit to the US, King Harald of Norway is on Tuesday visiting Homer, Alaska...Read more...

King Harald visits Alaska

On his official visit to the US, Norway's King Harald on Sunday arrived in Anchorage, Alaska. On Tuesday, the King is scheduled to visit Homer...Read more...

Extra long Pentecost Weekend

The weekend of Pentecost is extra long in Norway, as we also celebrate Second Day Pentecost on Monday as a public and religious holiday...Read more...

Norway largest exporter of natural gas to Western Europe

Norway has now surpassed Russia as the largest exporter of natural gas to Western Europe, NRK reports...Read more...

Football: Ødegaard (16) made his debut for Real Madrid

Norwegian professional Martin Ødegaard (16) replaced Cristiano Ronaldo in the 57th minute of Real Madrid's match against Getafe Saturday, and in the process became the youngest La Liga debutant in Real Madrid's history...Read more...

SAS strike: US flight cancelled

SAS has cancelled five intercontinental flights this weekend, due to the strike by Norwgian pilots. One of the flights is Oslo - New York on Sunday...Read more...

Norway's King visits the US

Norway's King Harald on Thursday began a six-day trip to the US, where he will visit Washington State and Alaska...Read more...

Air travel: SAS hit by pilots' strike

Scandinavian airline SAS was hit by a pilots' strike Thursday morning, after the two sides failed to reach agreement on a new wage contract, following arbitration on overtime...Read more...

62 Degrees North

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/612298Web_0074_hm_567x378_72.jpg

Sea Safari

Let the adrenalin flow during our exiting sea safari in an open rapid RIB boat. Discover Ålesund from the sea. Visit seal colonies and experience puffins and eagles at the See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/979953Web_Brosundet_lighthouse_room_49.jpg

Brosundet Lighthouse

Hotel Brosundet is small and intimate with only 47 rooms. The jewel in our treasury-box is Room 47. Only a few minutes walk from the hotel lies the old and See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/489969Web_DSC_4757.jpg

Storfjord Hotel

Storfjord Hotel is a secluded luxury hotel situated in Øvre Glomset, 30 km east of Ålesund, on a hillside overlooking the Storfjord and the Sunnmøre Alps. Ever since it opened See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/971299Web_Kajakk_Brosundet.jpg

Kayaking in Brosundet

A surprisingly large number of Norway’s most stunning natural attractions are concentrated around 62 degrees north latitude. Our company, 62˚Nord is a local company, with the intimate local knowledge necessary See details

http://www.norwaypost.no/components/com_gk3_photoslide/thumbs_big/739979Web_640__Somerruter_Foto_RasmusKongs__re.jpg

Summer Trip

Join a tour with a comfortable sightseeing boat to the wild and majestic Hjørundfjord, with stunning views of mountains and fjords at their most spectacular! The meeting between the torn See details

Local News in Brief

Social Networking

Norwaypost Classifieds

Norges Rederiforbund
Statoil

.Partners

Bedin Front Right Top
Statistics
NORGE.NO/DIFI