tim thinks that***

June 18, 2008 @ 9:48 pm

How Norway Manages Its Oil Money

This week’s TIME had a piece on Norway’s Government Pension Fund-Global, Norway’s sovereign trust fund. Profits from their oil and gas resources are channeled into it and invested.

Highlights:
- Assets of USD 382 billion.
- Owns 1% of the entire European stock market
- Scored 100% in governance, accountability, and transparency in a study by the Peterson Institute. Singapore’s Investment Corp averaged 40% (Petronas ranked dead last in a 2006 Spanish study of oil companies)
- Pledges to press firms it invests in to improve protection of human rights.
- Dumped stakes in Boeing and British BAE because they manufactured nuclear weapons.
- Voted in a shareholder push for Exxon-Mobil to adopt emission-reduction goals.

Norway has never sent a man to the moon, they never had the tallest building in the world, and they don’t have a national car, but certainly Norge kan!

Popularity: 41% [?]

Filed under: World
Tags: , ,

1 thought »

  1. johnny ong thought that...

    June 23, 2008 @ 12:07 pm

    norway has the best managed economy in the world and they are one of the top countries that drew good foreign investments

RSS feed to know what people thought about this post · TrackBack URI

Tell me what you think :

Twitter Updates

    Timothy Teoh's Facebook profile

    Pages

    Blogroll

    Blogs I read

    Nuffnangers

    Sites I read

    Meta