Norway wealth fund gets nod to sell EUR 5.4bn in oil stocks
Norway’s massive wealth fund got the go-ahead to sell oil and gas stocks worth EUR 5.4bn, ending a two-year process that has reduced an initial proposal to dump all its petroleum investments to a more moderate divestment.
BY MIKAEL HOLTER & SVEINUNG SLEIRE / BLOOMBERG
The EUR 0.92trn fund schoked markets in 2017 when it asked the government for permission to sell about EUR 37bn in such stocks, arguing a cut in exposure would reduce the overall risk for Norway, western Europe’s biggest petroleum producer. That plan was then heavily diluted in a political compromise that shielded the world’s biggest oil companies.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
