Norway reports record sovereign wealth fund profits and DNO revenue growth

Norway's financial sector reported significant gains in the first half of 2026. Norges Bank Investment Management, the world's largest sovereign wealth fund, achieved a record first-half profit of 1.75 trillion Norwegian kroner (approximately $184 billion). This 9.4% return was primarily driven by equity investments, which saw a 16% return, with strong performance in Asian technology, telecommunications, and energy sectors.

Separately, the Norwegian oil and gas operator DNO reported record second-quarter 2026 revenue of $761 million, a 21% increase from the previous quarter. Operating profit rose 55% to $439 million, while net profit increased 65% to $83 million. Despite a near-total shutdown of production in Kurdistan due to regional safety concerns, DNO's North Sea assets remained the primary driver of growth, producing 84,900 boepd. The company also announced a possible acquisition of Genel Energy.