EnergyWatch

Norway's oil wealth grew by NOK 1,000 billion in 2017

The numbers are so big that they are hard to keep track of. The Norwegian Government Pension Fund Global is raking in the returns.

Photo: Marit Hommedal - Statoil

Norway's piggy bank is not in want of cash, shows the 2017 report from the country's sovereign oil fund, the Government Pension Fund Global (GPFG).

Returns came to 13.7 percent, which is a reasonable level in and of itself. But for GPFG, this percentage corresponds to a remarkable amount of money. The fund sits on a huge pile of cash, and returns of almost 14 percent come close to NOK 1,000 billion (EUR 104 billion).

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