Norway Fund Set to Ditch Some E&P Stocks

摘要

Norway’s government has approved a proposal by its $1 trillion sovereign wealth fund - one of the world’s largest investors - to sell off some of its oil and gas stocks to help shield the economy from oil price risk (OD Mar.8’19). The finance ministry on Friday recommended excluding from the Government Pension Fund Global (GPFG) companies classified as exploration and production (E&P) companies by index operator FTSE Russell, in which it has investments in 134 such firms worth around $7.5 billion.