30.10.2014 - Norway Faces New Economic Realities With Oil’s Price Decline
As global oil prices slide, there are signs Norway’s luck is running thin. On Wednesday, Statoil AS A, the oil and gas major 67%-owned by the Norwegian government, posted its first quarterly net loss since it floated on the stock market in 2001. Separately, Norway’s $838 billion sovereign-wealth fund—the largest of its kind in the world that long has been fueled by oil revenues—said it achieved a slim 0.1% return on investments in the third quarter, thanks to a loss on its substantial holdings of European equities...............................................Full Article: Source
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