The CEO of Norway's $1.8 trillion sovereign wealth fund, Nicolai Tangen, has issued a stark warning about the potential risks posed by the fragmentation of the global economy. Speaking in recent interviews, Tangen highlighted the adverse effects of economic decoupling, which could lead to lower growth, higher inflation, and increased uncertainty. This scenario, according to Tangen, represents the most significant risk to financial markets today.

Tangen's concerns are based on the fund's own stress-test scenarios, which predict that a 'fragmented world' could result in the fund losing up to a third of its value. Despite the volatility observed in markets in recent weeks, Tangen noted the paradox that markets have remained relatively flat over the year. This resilience, however, does not diminish the potential long-term risks of economic decoupling.

In response to these challenges, the fund is exploring opportunities in real estate and renewable energy assets, which Tangen believes are becoming increasingly attractive in the current climate. The fund has already made significant investments in prime properties and renewable projects in Europe and is considering expanding its portfolio in the United States. These moves are part of a broader strategy to diversify the fund's investments and mitigate the risks associated with economic fragmentation.

As the world navigates through these uncertain times, the Norway sovereign wealth fund's approach underscores the importance of long-term planning and diversification. With its vast resources and global reach, the fund is well-positioned to adapt to changing economic conditions. However, Tangen's warnings serve as a reminder of the fragile state of the global economy and the need for vigilance among investors.

DNO ASA, the Norwegian oil and gas operator, has announced its Annual General Meeting (AGM) for 2025, scheduled to take place on 5 June at The National Museum in Oslo. The company has made provisions for remote participation, allowing shareholders to vote electronically in advance or submit a proxy. This move underscores DNO's commitment to accessibility and shareholder engagement amidst its expanding global operations.

In addition to the AGM announcement, DNO has reported a solid first quarter for 2025, with an operating profit of USD 28 million and revenues of USD 188 million. The company's net production saw an eight percent increase, reaching 84,200 barrels of oil equivalent per day. This performance is particularly noteworthy given the transformative USD 1.6 billion acquisition of Norway's Sval Energi Group AS, signaling DNO's strategic pivot towards enhancing its footprint in Norwegian waters.

The company's operational efficiency in Kurdistan has been a highlight, with production in the Tawke license increasing by 11 percent quarter-on-quarter. Despite the challenges posed by the closure of the Iraq-Türkiye export pipeline, DNO has managed to stabilize and even increase production from existing wells through innovative rigless interventions. This achievement not only demonstrates DNO's resilience but also its ability to maintain profitability with minimal investment.

Looking ahead, DNO Executive Chairman Bijan Mossavar-Rahmani emphasized the company's intention to replicate its Middle Eastern efficiencies in Norway. With the Sval acquisition expected to close around midyear, DNO is poised to embrace the 'faster, cheaper, better' ethos of the early Norwegian oil industry. This strategic direction, coupled with the company's strong Q1 performance, positions DNO as a formidable player in the global oil and gas sector.