• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 7 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 2 hours The Inconvenient Truth Of Electric Cars
  • 5 hours Iran downs US drone. No military response . . Just Completely Destroy their Economy. Can Senator Kerry be tried for aiding enemy ?
  • 1 hour Oil Demand Needs to Halve: Equinor
  • 7 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 9 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
  • 4 hours Solar Panels at 26 cents per watt
  • 9 hours Is $60/Bbl WTI still considered a break even for Shale Oil
  • 2 hours The Plastics Problem
  • 10 hours Wonders of Shale - Gas, bringing investments and jobs to the US
  • 10 hours NATO Article 5: Attack on one member is attack on all. Members all must come to defense . . . NOT facilitate financial transactions to circumvent and foil US Sanctions. Somebody please tell Angela.
  • 5 hours Section 232 Uranium
  • 3 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 3 hours Huge UK Gas Discovery
  • 6 hours Hydrogen FTW... Some Day
Alt Text

Canada’s Oil Patch Faces Investor Exodus

Capital investment across Canada’s oil…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Norway’s Sovereign Wealth Fund Posts A Loss

Norway’s sovereign wealth fund, built on the back of the country’s oil wealth and the biggest in the world, reported its first quarterly loss in two years for January to March on the back of a global stock selloff that it had no means of avoiding as more than two-thirds of its holdings are in stocks.

Commenting on the results, the chief executive of the fund, Yngve Slyngstad said, “The most important expression of risk in the fund is that the strategic equity share is set to 70 percent. This means that fluctuations in the fund’s value are predominantly determined by the development in global stock markets.”

The Norway Government Pension Fund Global booked negative returns of 1.5 percent for the first quarter of the year, or a loss of US$15.1 billion (171 billion kroner). In stocks, the return was -2.2 percent, but in unlisted real estate investments there was a positive return of 2.5 percent. The real estate holdings of the fund, however, are just 2.7 percent, so that positive result had no bearing whatsoever on the overall performance of the fund. The rest of its holdings, at 31.2 percent, are in bonds.

Like other investment vehicles, the Norway fund suffered the effects from growing unease about protectionist policies in the United States combined with rising wages and expectations for more interest rate hikes. U.S. stocks comprise 36.1 percent of the fund’s stock portfolio and represent its single largest market. The largest equity holdings are in the tech sector, including Microsoft, Apple, and Alphabet, as well as Nestle.

Last month, the fund warned it could lose US$420 billion from its value—40 percent—this year if the market crashes and the Norwegian krone strengthens. “[Our estimate] is much larger than the numbers that have been discussed in Norway on the spending rule [that a government cannot use more than 3 per cent of the fund], and what would be the game plan in case the fund were reduced in krone rapidly,” Slyngstad told the FT at the time.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • Phil on April 27 2018 said:
    Well, I guess if Norway had held their fund in the form of oil (their own oil) they wouldn't have lost a penny during the 1st quarter this year :)
    In any case it is not a big problem for Norway which created this fund for the simple reason that this oil money is redundant from the normal economy's point of view

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News