Connect with us

Alaska and Norway Oil Officials Meet to Discuss Differences

Published

on

Ola Borten Moe

In Anchorage at the Alaska World Affairs Council meeting, Norway’s Minister of Petroleum and Energy, Ola Borten Moe made it clear that having a stable tax regime was critical for Norway to capitalize on its offshore oil and gas resources. Taxation structure certainty is an essential driver for oil development businesses to plan investments. The State of Alaska is in debate of whether reducing oil taxes would lead to more energy development in Alaska. One side argues that high taxes hinder energy investment and development. Norway’s tax on oil and gas companies is slightly higher than Alaska’s.

North Slope Crude – State Tax Rate is 57%, plus U.S. Federal Tax of 15% = 72%

Norway’s taxes 78% on oil and gas firm profits; however, Norway offers plentiful deductions on investments.

Recently, Norway discovered a very large oil field and has had around 150 oil and gas discoveries since 2000. This year Statoil ASA made two offshore discoveries of more than 250 million barrels of oil. Experts believe that 60% of Norway’s oil reserves are still underground. Norway does have a few advantages; one is that its offshore oil fields are closer to major markets such as continental Europe, lowering transportation costs, thus increasing profitability.

Matt Whineray Officially Named CEO of NZ Super Fund

Published

on

On June 19, 2018, the Board of the Guardians of New Zealand Superannuation (NZ Super Fund) officially appointed Matt Whineray as chief executive officer. He has been acting CEO of the sovereign wealth fund since March 2018. Whineray joined the organization in 2008 as general manager, private markets and in 2014 became chief investment officer. The appointment is effective July 1, 2018.

An executive search was conducted when Adrian Orr decided to take the governor job at New Zealand’s central bank.

Here is an interview SWFI conducted with Matt Whineray.

Continue Reading

SWFI First Read, June 19, 2018

Published

on

Tronc to Revert to Original Name – Tribune Publishing

Publishing company Tronc will go back to its current name Tribune Publishing. Tronc is the parent company of the New York Daily News and Chicago Tribune. Tronc stood for Tribune Online Content, but received vast ridicule from the U.S. media community.

Denholm to Lead as CIO of Solutions Unit at Aviva Investors

Al Denholm was named Chief Investment Officer for the new solutions unit at Aviva Investors. This is a new position and Denholm is based in London. He will report to Aviva Investors CEO Euan Munro. Denholm was Chief Executive Officer at Prudential Portfolio Management Group.

Hostetter Gets Fresh Start at Russell Investments

Robert Hostetter was named Global Head of Product at Russell Investments. He will report to Michelle Seitz, CEO and Chair of Russell Investments. Previously, Hostetter was Managing Director and Global Head of Product Strategy at AllianceBernstein.

President Trump Wants a Space Force Branch

U.S. President Donald Trump revealed plans at directing the Pentagon to form a new space force branch of the military.

Greenpeace Occupied AP3’s Offices Last Week

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

CalPERS Reveals More of New Private Equity Model

Published

on

The California Public Employees’ Retirement System (CalPERS) is a major U.S. pension player in private equity.

CalPERS is keen on using this direct model to better source and take advantage in private equity to meet its goal of a 10% target, while lowering fees. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.