Saudi Aramco's IPO Just Lost World's Largest Equity Investor - Bloomberg:
"Selling the world’s largest initial public offering wasn’t going to be easy. For Saudi Arabia, the mission just got a lot more complicated: the Aramco IPO won’t have the support of the biggest equity investor.
Norway’s $1 trillion sovereign wealth fund has proposed dumping all its oil and gas stocks -- roughly $35 billion -- to diversify away from energy. The Nordic nation is one of the world’s top oil producers and its fund invests heavily in energy, owning large chunks of Big Oil as well as stakes in major state-controlled companies including Petrobras of Brazil and Sinopec of China."
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