Norway Plans to Tap $63.7 Billion From Its Oil Fund in 2027
Norway Plans to Tap $63.7 Billion From Its Oil Fund in 2027 Germany’s proposed €2-billion eSAF double… What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… wealth fund for public expenses next year, higher than this year’s spending from the world’s largest such fund.
The governmentunveiled its budget billfor 2027, which includes a proposal to withdraw and spend 608.4 billion Norwegian crowns, or $63.7 billion, from Government Pension Fund Global.
Under the proposal, spending from the sovereign wealth fund would increase by 4.9 billion crowns, or $513 million, compared to 2026, measured in fixed 2027 prices, the government said.
The planned spending for 2027 accounts for 2.7% of the value of the fund, equal to 2026.
Key economic assumptions in the 2027 budget draft include GDP growth of 1.7% next year, up from 1.1% in 2026 and returning to the 2025 level.
Norway’s Government Pension Fund Global (GPFG), which is commonly referred to as 'Norway's oil fund' because it was created with oil and gas revenues, is a shareholder in many large companies in the world, with more than half of the value of its equity investments in the U.S.
The Norwegian fund was created in the 1990s, and today it holds, on average, 1.5% of all listed companies in the world.
The fund posted arecord-high profit of $185 billionfor the first half of 2026, as Asian technology stocks boosted its returns and profit on the portfolio.
For the first half of the year, the fundposteda record profit on the portfolio before foreign exchange adjustments at 1.753 billion Norwegian crowns, or $185 billion, the fund’s manager, Norges Bank Investment Management (NBIM), said in August.
This is more than double compared to the profit for the first half of last year, amid a rally in technology stocks.
Equity investments accounted for 72.1% of the fund’s value at the end of the first half of 2026, and fixed-income investments for 25.8%.
Nvidia, Apple, and Microsoft are the most valuable investments of the Norwegian wealth fund.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment