Norway’s trillion-dollar sovereign wealth fund, the world’s biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan.
Energy stocks represented 5.9 per cent of the fund’s equity investments at the end of 2018, worth about $37-billion, fund data showed. But much of that amount is invested in integrated firms rather than smaller, dedicated explorers and producers. “Exploration and production companies will be phased out from the fund gradually over time,” the government proposal said, without giving a timeline.
globebusiness No real news for anybody as infrastructure is built ... look at the rig ... aint going anywhere ... why keep investment where returns have already been met and income stable but no growth ... ........................................................................................
globebusiness Norway wealth is attributed to oil&gas see how long that last. 🤔