Norway sovereign wealth fund to divest oil explorers, keep refiners - Reuters:
Norway’s $1.1 trillion sovereign fund will divest companies solely dedicated to oil and gas exploration and production in a bid to shield itself from a long-term fall in oil prices, the finance ministry said late on Tuesday.
The move will partly shift the world’s largest sovereign wealth fund away from oil and gas, as called for by the central bank, which had originally sought to remove all petroleum producers to protect the country if oil prices fell.
The fund will continue to maintain stakes in refiners and other downstream firms.
No comments:
Post a Comment