Norway’s $1 trillion sovereign wealth fund is dumping billions’ worth of stock in oil and gas companies
Norway’s $1 trillion sovereign wealth fund is divesting from oil and gas explorers and producers to protect itself from oil price declines.
The fund will no longer invest in 134 companies including Anadarko Petroleum and Chesapeake Energy.
In a bid to insulate Norway against future falls in the oil price, the nation’s $1 trillion sovereign wealth fund will no longer invest in oil and gas producers and explorers.
“The value of these resources is uncertain and fluctuates in tandem with the oil price.
This makes Norway vulnerable to a permanent decline in the oil price.”
Markets Insider
Norway’s Sovereign Wealth Fund Set to Drop Oil Exploration Stocks | SWFI – Sovereign Wealth Fund Institute