Norway's wealth funds falls short of climate ambitions according to NGO
A non-governmental organization said that the world's biggest sovereign wealth fund has failed to meet its own climate goals by not voting in favor of shareholder resolutions this year during AGM season. The fund, which has a value of $1.8 trillion, pools revenues from the Nordic states' oil and gas production.
Total CEO Not Worried over Possible Norway Fund Capital Exit
The possible exit of Norway's sovereign wealth fund from the capital of French oil and gas major Total will take place over time and is thus unlikely to hurt Total's stock price, Chief Executive Officer Patrick Pouyanne said on Friday. "I can tell you that, obviously…
Norway's $975 bln Wealth Fund Should Improve Ethical Stance
Norway's $975-billion sovereign wealth fund, the world's largest, should be more forceful in promoting its ethical agenda and influencing the thousands of companies it invests in, a report commissioned by non-governmental organisations said on Monday. The fund…
Norway Wealth Fund Excludes 15 Coal Firms
Norway's central bank, which manages the country's $869 billion wealth fund, has excluded an additional 15 companies from its portfolio due to their use or production of coal, and plans further exclusions next year, it said on Wednesday. The world's largest sovereign…
Drop in Oil Investments a Drag on Norway's Economy
The sharp decline in investments by oil firms is a significant problem for Norway's economy, central bank Governor Oeystein Olsen said on Friday. "The fall is significant and a strongly negative impulse hitting the Norwegian economy," Olsen told a business conference.
Norway Oil Companies Lower 2017 Spending Plans
Norway's oil companies have lowered their 2017 investment plans, a Statistics Norway survey showed on Wednesday, raising the chances of a central bank interest rate cut in the coming months. Norway's biggest industry has curbed spending in the wake of a more than 50 percent fall in oil prices over the last two years…
Norway's Oil Spend to Fall Again in 2017
Drop mostly due to postponing decommissioning schemes. Investment in Norway's oil and gas sector, a cornerstone of the economy, will drop next year as weak crude prices push energy companies to rein in their budgets, a national statistics agency survey showed on Wednesday.
Statoil declares Dividend for 1Q 2016
Statoil announced dividend per share of USD 0.2201 for first quarter 2016. The NOK dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 11 August 2016, in total seven business days. Average Norges Bank fixing rate for this period was 8.2398.
Norway Fund Supports Exxon, Chevron Shareholder Proposals
Norway's $872 billion sovereign wealth fund, the world's largest, will back shareholder proposals aimed at changing corporate governance and climate policies at U.S. oil majors Exxon Mobil and Chevron, it said on Tuesday. The companies' boards have recommended that owners reject the measures, the fund added.
Statoil Declares dividend for 3Q2015
Statoil declared 28 October 2015 dividend per share of USD 0.2201 for third quarter 2015. The NOK divided per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 17 February 2016, in total seven business days.
Norway's Wealth Fund to Okay BG-Shell Merger
Norway's $790 billion sovereign wealth fund, the world's largest, will vote in favour of the merger of energy companies Royal Dutch Shell and BG , it said on Wednesday. "Norges Bank Investment Management considers that the transaction accelerates value for BG Group…
Norway's Oil Fund Takes France's Alstom Off Ethics Risk List
Norway's $837 billion sovereign wealth fund, the world's largest, has removed power and transport company Alstom SA from its ethics observation list, the fund said on Tuesday. The fund said Alstom joined the list in 2011, when Norway's finance ministry decided…
Saudi, Norway Sovereign Funds shedding European Shares
The three biggest sovereign wealth funds of oil-producing countries have been selling European equity holdings since May, a study showed on Monday, another sign of petrodollars being withdrawn from world markets. Asian funds have meanwhile continued to add European equities…
Norway's Oil Investment Outlook Brightens
The slump in investment in Norway's oil and gas sector, a cornerstone of the economy, is seen levelling off from 2016, data from Statistics Norway showed on Friday, although the central bank is still expected to cut interest rates next week. Economists had feared…
Norway's Oil Fund Slashes Coal Investments After Criticism
Norway's $900 billion sovereign wealth fund, the world's biggest, has reduced the value of its coal mining portfolio by almost 40 percent in the first quarter, its head told parliament on Monday. Environmental groups and some Norwegian politicians have accused…
Norway's Oil & Gas Investment to See Steeper Fall
Investments seen falling 13.9 pct in 2015 vs 2014; investments were seen down 12.3 pct over same time in June. Crown weakens after data. Norway's oil and gas investments, a key ingredient of economic growth, are expected to fall more than expected in 2015, a survey showed on Wednesday…
