Stock market slide hits the Oil Fund

Norway’s central bank (Norges Bank) once again gathered 300 of the country’s most powerful people Thursday night, to listen to its chief’s annual perspectives on the economy. Øystein Olsen warned that recent declines in stock markets around the world can weaken Norway’s enormous piggy bank known as the Oil Fund. What goes up must come […]

Oil Fund turns ‘climate activist’

Risk assessments already being made by Norway’s huge sovereign wealth fund known as the Oil Fund may now help reverse climate change. The fund’s chief, Yngve Slyngstad, and Nowegian Prime Minister Erna Solberg played key roles at French President Emmanuel Macron’s “One Planet Summit” in Paris this week, with Slyngstad talking about how investors can […]

Oil Fund targets tax dodgers in portfolio

Norway’s enormous sovereign wealth fund known as the Oil Fund is once again flexing its financial muscle around the world, pouncing this time on companies like Nike and Apple. It dislikes how such multi-nationals in which it invests have been avoiding taxes in countries where they do business, even when the practice is legal. Oslo […]

Climate activists hail oil divestments

NEWS ANALYSIS: After years of trying to steer the Norwegian government away from more investment in its oil industry, because of the damage it can cause to the climate and environment, activists on both fronts are glad that at least their politicians will listen when money talks. Climate advocates are delighted that Norway’s central bank […]

Oil Fund caught in a power struggle

The head of Norway’s central bank, Øystein Olsen, and the man running the central bank’s unit in charge of managing Norway’s huge Oil Fund, Yngve Slyngstad, disagree on the fund’s future. Their disagreement has now been branded as a “power struggle” that can only be settled by the state politicians ultimately responsible for the fund, […]

Critics blast lack of Oil Fund ‘buffers’

Norway’s huge sovereign wealth fund known as the “Oil Fund” is far too vulnerable to swings in the financial markets, argue critics. They claim a lack of buffers to reduce the impact of swings that can cut into market value is a glaring omission on the part of the state government responsible for the fund. […]

US pipeline opponents back in Oslo

A group of North American women representing the indigenous groups fighting construction of disputed pipeline projects in the US and Canada have been back in Oslo this week. They’re urging Norwegian politicians and financiers to cut all ties to the projects, but Norway’s sovereign wealth fund known as the Oil Fund was non-committal. Norwegian Broadcasting […]

Oil Fund passes ‘new milestone’

Norway’s huge sovereign wealth fund known as the Oil Fund surpassed a market value of a trillion US dollars this week, at around 2am on Tuesday September 19 to be exact. It was the first time the fund hit the record level, and its chief executive allowed himself to be impressed. “I don’t think anyone […]

Prudence prevails in use of Oil Fund

Even though Finance Minister Siv Jensen has tapped into more of Norway’s oil revenues than any of her predecessors, to pad the state budget, the country’s famous Oil Fund just keeps growing. It’s the ultimate piggy bank, more than 70 percent bigger now than when Jensen assumed her post in 2013, and new figures show that […]

Oil Fund pumps up new tax principles

Norway’s huge sovereign wealth fund, which has become a powerful investor around the world, is now launching what some call “a little revolution” in tax principles and transparency. Popularly known as the “Oil Fund,” it has released an “expectation document” that basically asks the companies in which it invests to improve their tax morals and pay more tax where […]