Norway Government Withdraws Some Money from SWF
Posted on 10/01/2019
The Norwegian Ministry of Finance
withdrew 3.6 billion NOK (US$ 397 million) from Norway Government Pension Fund Global (GPFG) in August 2019.
This is the first time the government has taken money out of the wealth fund in more than a year’s span.
SWFI
https://www.swfinstitute.org/news/75245/norway-government-withdraws-some-money-from-swf
Decision on the definition of upstream oil and gas companies in the GPFG – regjeringen.no
The decision to phase out upstream oil and gas companies from the Government Pension Fund
Global (GPFG) shall apply to companies classified as “Oil: Crude Producers” by the index provider FTSE Russell.
The Ministry of Finance has made this decision today, as part of the follow-up of Parliament’s (the Storting’s) endorsement of the proposal to omit upstream oil and gas companies form the Fund’s benchmark and investment universe.
Norway Wealth Fund Gets Nod to Sell $6 Billion in Oil Stocks
According to a list provided by FTSE Russell in July,
the fund’s biggest holdings in that category at the end of 2018 were
ConocoPhillips,
EOG Resources Inc.,
Occidental Petroleum Corp.
CNOOC Ltd.
The Finance Ministry
didn’t provide an updated list of companies in Tuesday’s statement.