Norway wealth fund to oppose electing Pouyanne as Total director
The sovereign wealth fund of Norway will vote against the re-election of Total SE’s Patrick Pouyanne as director of the French energy company at this week’s annual general meeting.
wealth fund
World’s biggest wealth fund strikes a milestone green deal
Norway’s $1.3 trillion wealth fund just made its first investment in clean energy infrastructure, more than a year after it was given the go-ahead to move into the asset class.
Norway’s oil and gas divestment spares biggest producers
Big Oil dodged a bullet.
Norway is plowing cash back into its wealth fund
Cash is once again flowing into the world’s biggest wealth fund.
Norway $1 trillion fund’s plan to dump big oil meets resistance
Norway’s $1 trillion sovereign wealth fund is meeting resistance on its plan to dump more than $40 billion in oil and gas stocks.
Norway raids more of massive wealth fund to support recovery
Norway is ratcheting up withdrawals from its $890 billion sovereign wealth fund to support a recovery as it foresees a continued slump for the nation’s petroleum industry.
Norway highlights risks to expanding wealth fund investments
Norway signaled there are risks to expanding the wealth fund’s investments in unlisted assets, properties and infrastructure as it prepares to present a review.
Biggest wealth fund faces more stress from Statoil dividend
While the crash in oil prices has eroded the Norwegian government’s income from crude production and taxes, it could count on one source of income to remain unaffected: the state’s dividends from Statoil ASA.
Norway to world: We’re sitting out the big wealth fund selloff
The world’s biggest wealth fund won’t be joining its counterparts in a selloff that’s hurting already depressed markets. In fact, officials who supervise the $780 billion fund haven’t even discussed the possibility of shifting strategy, according to Egil Matsen, who this week started as the new deputy central bank governor in charge of oversight of the investor.
Norway looks at riskier assets as wealth fund withdrawals loom
As Norway prepares to make the first withdrawals from its $820 billion wealth fund, the government is considering letting it take on riskier investments. The Finance Ministry is looking into whether to boost the fund’s stock allocation to beyond 60 percent as the investor struggles with record low bond yields. The government is forming a panel to assess the impact of changing the limit that will report back in 2017.
Norway proposes boosting oil cash spending to a record
Norway’s government will propose spending a record amount of its petroleum wealth to cover budget needs as it seeks to rescue the economy from the plunge in oil prices, according to state broadcaster NRK. The minority coalition plans on spending a record 193 billion kroner ($23 billion) of oil income in 2016, up from an estimated 168.8 billion kroner this year, NRK reported, without citing where it got the information. That represents 2.8 percent of its wealth fund, the world’s biggest, NRK said. The government seeks to keep oil cash spending within 4 percent of the value of the fund. The budget will be revealed at 10 a.m. Wednesday in Oslo. “The budget will be well-adapted to handle challenges both in the short and long term,” Finance Minister Siv Jensen said to reporters as she was leaving her house early Wednesday. It will be a “good” and “expansionary” spending plan, she said.
Norway seen tapping its wealth fund to ward off oil slump risks
For Norway, the future may already be here.
Iceland plans oil wealth fund
Iceland's premier, Olafur Grimsson, has indicated that the Reykjavik government will set up a wealth fund, anticipating a possible offshore oil and gas boom, now that the doorway to exploration is open.