{"id":245,"date":"2013-12-14T10:22:32","date_gmt":"2013-12-14T10:22:32","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=245"},"modified":"2015-09-02T20:09:43","modified_gmt":"2015-09-02T20:09:43","slug":"norway-oil-fund-under-lawmaker-pressure-to-buy-more-in-africa","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/norway-oil-fund-under-lawmaker-pressure-to-buy-more-in-africa\/","title":{"rendered":"Norway Oil Fund Under Lawmaker Pressure to Buy More in Africa"},"content":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n

Norway\u2019s Christian Democrats, a key support party for the minority government, called on the nation\u2019s sovereign wealth fund to steer more of its $810 billion in assets into\u00a0Africa<\/a>\u00a0to reap better returns.<\/p>\n

The party wants to set aside 10 billion kroner ($1.6 billion) of the fund\u2019s cash for African purchases as a \u201cstarting point\u201d for a debate on how much should be invested there, Knut Arild Hareide, leader of the Christian Democrats, said in a Dec. 6 interview.<\/p>\n

\u201cWhen we make these investments in Africa, it\u2019s good for those countries,\u201d Hareide said. \u201cIt has also been better for us to invest in Africa over the last years than in Europe,\u201d where a recession has hurt returns, he said.<\/p>\n

Norway\u2019s wealth fund, which got its first capital infusion in 1996 to invest the country\u2019s oil wealth outside its borders, is in the midst of a shift in strategy to capture more global growth. It\u2019s moving asset allocation away from Europe as\u00a0emerging markets<\/a>\u00a0in Asia and South America gain a bigger share of global output.<\/p>\n

At the end of September, the fund held 9.6 percent of its stock portfolio in emerging market countries, including 0.6 percent in South Africa.<\/p>\n

The FTSE\/JSE Africa All-Share Index, the benchmark index in Johannesburg, has risen 350 percent over the past 10 years, compared with 40 percent for the Stoxx Europe 600 Index.<\/p>\n

White Paper<\/h2>\n

Hareide\u2019s push to increase investments in Africa comes as the new government prepares its first annual white paper on the fund for parliament. Hareide expects his proposal will be part of the paper, which he said will be released by May.<\/p>\n

Finance Minister Siv Jensen in an interview last month said the government will stick to the existing investment mandate.<\/p>\n

\u201cWe aim at a predictable and stable investment strategy for the fund,\u201d Jensen said.<\/p>\n

The Labor Party, the biggest opposition party, also plans to release its own white paper ahead of the government with proposals including divesting coal companies, which the Christian Democrats would support, Hareide said.<\/p>\n

Story by Bloomberg<\/a><\/p>\n

[twitter-follow screen_name=’oilnewskenya’]<\/p>\n","protected":false},"excerpt":{"rendered":"

[twitter-follow screen_name=’oilnewskenya’] Norway\u2019s Christian Democrats, a key support party for the minority government, called on the nation\u2019s sovereign wealth fund to steer more of its $810 billion in assets into\u00a0Africa\u00a0to … Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":9,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[6],"tags":[63,204,1210,1341,1777,2320,2390,2733],"class_list":["post-245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-by-others","tag-africa","tag-australian-labor-party","tag-johannesburg","tag-knut-arild-hareide","tag-norway","tag-siv-jensen","tag-sovereign-wealth-fund","tag-white-paper","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2013\/12\/oil2.jpg?fit=256%2C176&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-3X","jetpack-related-posts":[{"id":325,"url":"https:\/\/www.oilnewskenya.com\/index.php\/new-oil-gas-finds-is-east-africa-ready-for-sovereign-wealth-funds\/","url_meta":{"origin":245,"position":0},"title":"New oil, gas finds: Is East Africa ready for sovereign wealth funds?","author":"Samuel Kamau Mbote","date":"January 4, 2014","format":false,"excerpt":"Story by The EastAfrican:- Sovereign wealth funds are fast becoming the \u201cmust-have\u201d for any natural resource-exporting country, and for any country hoping to commercialise reserves of oil, gas or minerals in the near future. East Africa has not been left behind, with Kenya, Uganda and Tanzania all considering the establishment\u2026","rel":"","context":"In "News by others"","block_context":{"text":"News by others","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/news-by-others\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/01\/eaoil11-eapetrolsyst.jpg?fit=776%2C516&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1621,"url":"https:\/\/www.oilnewskenya.com\/index.php\/special-unit-to-monitor-tanzanias-natural-gas-revenues-sovereign-wealth-fund\/","url_meta":{"origin":245,"position":1},"title":"Special Unit to monitor Tanzania\u2019s natural gas revenues, sovereign wealth fund","author":"Samuel Kamau Mbote","date":"August 14, 2014","format":false,"excerpt":"Tanzania has announced it will be forming a special unit that will look into the country\u2019s revenue from natural gas as the country prepares to start production in the first quarter of 2015. Tanzania that has discovered just over 50.5Tcf reserves of natural gas both offshore and onshore hopes the\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12572,"url":"https:\/\/www.oilnewskenya.com\/index.php\/zimbabwe-invictus-expands-cabora-bassa-exploration-licence-footprint\/","url_meta":{"origin":245,"position":2},"title":"ZIMBABWE: Invictus Expands Cabora Bassa Exploration Licence Footprint","author":"","date":"August 17, 2022","format":false,"excerpt":"Assignment of exploration rights to EPO 1848 and EPO 1849 by Sovereign Wealth Fund of Zimbabwe Invictus\u2019 80% owned subsidiary Geo Associates (Pvt) Ltd and the Sovereign Wealth Fund of Zimbabwe have executed an assignment agreement for the exploration rights to Exclusive Prospecting Orders (EPOs) 1848 and 1849. EPOs 1848\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2022\/08\/Zimbabwe-cabora-basin-license-map.png?fit=632%2C432&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":15725,"url":"https:\/\/www.oilnewskenya.com\/index.php\/mozambique-lng-revenues-reach-252-8-million\/","url_meta":{"origin":245,"position":3},"title":"MOZAMBIQUE: LNG Revenues Reach $252.8 million","author":"Samuel Kamau Mbote","date":"April 22, 2026","format":false,"excerpt":"The Mozambican state has collected US$252.8 million in Liquefied Natural Gas (LNG) revenue from the start of commercial operations at Coral Sul FLNG in November 2022 until December 2025. The information is contained in the annual report on LNG revenues for the year 2025, reviewed and approved this Tuesday (31),\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/CORAL-SUL-FLNG-1536x864-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/CORAL-SUL-FLNG-1536x864-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/CORAL-SUL-FLNG-1536x864-1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/CORAL-SUL-FLNG-1536x864-1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2026\/04\/CORAL-SUL-FLNG-1536x864-1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1753,"url":"https:\/\/www.oilnewskenya.com\/index.php\/kenya-norway-to-enter-into-an-agreement-on-management-of-petroleum-resources\/","url_meta":{"origin":245,"position":4},"title":"Kenya, Norway to enter into an agreement on management of petroleum resources","author":"Samuel Kamau Mbote","date":"September 11, 2014","format":false,"excerpt":"Kenya and Norway have announced that they are considering entering into a long term agreement Petroleum on effective and socially responsible management of petroleum resources. This was revealed as President Uhuru Kenyatta met with the new Ambassador to Kenya Victor Conrad Ronneberg who presented his credentials at State House\u00a0 Nairobi\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/uhuru-norway.png?fit=433%2C331&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1425,"url":"https:\/\/www.oilnewskenya.com\/index.php\/exploration-companies-can-invest-in-mutually-beneficial-csr\/","url_meta":{"origin":245,"position":5},"title":"Exploration companies can invest in mutually beneficial CSR","author":"Samuel Kamau Mbote","date":"July 10, 2014","format":false,"excerpt":"Companies exploring for resources in many poor countries around the world can engage in corporate social responsibility that assist them in their activities whereas at the same time benefit the locals. According to the Co-Director, Oxford Institute for Global Economic Development Sir Paul Collier companies should engage in CSR such\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/csr.jpg?fit=300%2C225&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=245"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/245\/revisions"}],"predecessor-version":[{"id":3293,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/245\/revisions\/3293"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/9"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}