Thu. Jul 18th, 2019

The sovereign fund of Norway will stop investing in oil and gas companies

The sovereign fund of Norway will stop investing in oil and gas companies


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BerlinUpdated:

The Oslo Ministry of Finance announced today that the sovereign fund of Norway, the largest in the world, will eliminate investment radar oil and gas companies and its benchmark.

Oil and gas companies accounted for 5.9% of the fund's investments at the end of 2018, for a value close to 37,000 million dollars. Driven by the central bank that manages the fund, the aim is to make the Norwegian state's assets less vulnerable to fluctuations in energy prices. The statement has caused losses on the stock market to energy companies.

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