Norway’s $1 trillion sovereign wealth fund is expected to sell some of its oil and gas holdings. The world’s largest sovereign wealth fund owns $37bn of shares in oil companies such as BP, Shell and France’s Total. Selling the shares means it would not be as reliant on oil prices, it says. But Norway’s finance ministry said oil will still be central to Norway’s economy.
BBC 8th March 2019 read more »
Norway has watered down plans for its sovereign wealth fund to shun investing in all oil and gas companies, announcing that it will boycott only pure oil explorers. The change of plan means that the $1 trillion fund will be allowed to keep its huge stakes in integrated oil groups such as Royal Dutch Shell, BP, Total and Exxon Mobil. The finance ministry said that pure oil and gas explorers would still be sold, but that integrated groups, which also refine crude oil and operate petrol stations, would not be included in the ban. Norway has the biggest sovereign fund in the world.
Times 9th March 2019 read more »
Telegraph 8th March 2019 read more »
The National 9th March 2019 read more »
Guardian 8th March 2019 read more »
FT 8th March 2019 read more »