Norway wealth fund ‘crazy’ to offload oil groups, says Lundin chief | Financial Times:
Norway’s decision to force its sovereign wealth fund to sell out of some oil producers is “crazy” and singles out his company, says the chief executive of Lundin Petroleum, one of Europe’s largest independent producers.
Alex Schneiter said that almost no other oil company operating in Norway would be affected by the ban as they are either Norwegian-based — meaning the $1tn national oil fund is not allowed to own them — or an oil major, groups which are unaffected by the measure.
Swedish-listed and Swiss-based Lundin has been the most successful exploration company in Norway in recent times, delivering half of its discoveries including the Johan Sverdrup field, with up to 3bn barrels of oil.
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