The value of the Norwegian Oil Fund is approaching 10,000 billion kroner

Oil FundOil.Photo: pixabay.com

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The Oil Fund may soon pass NOK 10,000 billion. Economist Espen Henriksen thinks we should think about what we do if the factors that have driven growth turn around.

Nearly 50 years after Phillips informed the Norwegian authorities of discoveries of oil in the Ekofisk field, which marked the beginning of the so-called oil adventure, the value of the oil fund can reach a staggering limit. In the year 2000, the value was NOK 386 billion, while in 2010 it was just over NOK 3,000 billion.

– “It is quite a coincidence when the amount is over 10,000 billion. What can get it across the border is that the krone continues to weaken or that the stock exchanges move upward. It is difficult to estimate the timing, and the factors that determine exactly when and if this happens are beyond our control,“ says Associate Professor Espen Henriksen at BI Norwegian Business School to NTB.

He has stock markets, international finance and macroeconomics as his field of expertise.

© NTB Scanpix / #Norway Today

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