News, Oil & Gas

Collective NOK 380 billion surplus in the Oil Fund

A very good result for 2013 lead to a sizeable reserve in the Oil Fund.

This means that the fund and the Government are better prepared for potential downturns on the stock market.  “This is way over what we can expect in the long-term,” says Head of the Oil Fund, Yngve Slyngstad, just after he presented the results for 2013.

“We will chop down any new growth, but we will let the exisiting forest remain,” said former Prime Minister Jens Stoltenberg back then.

The numbers between 2002 and 2013, however, show that all the growth has not been “chopped down”. There is currently a collective surplus of just more than NOK 380 billion in the fund compared to what its value would be if the entire return had been used during these years, according to Aftenposten’s calculations.

To read the full story, please visit The Norway Post here.