Finance Minister Siv Jensen says the decision 'does not reflect any specific view on the oil price'. – EPA pic, March 8, 2019.
NORWAY’S sovereign wealth fund, the world’s biggest and which is fuelled by petrodollars, will divest its oil and gas holdings to reduce its exposure to the oil sector, the Norwegian government announced today. While the decision is based solely on financial considerations and not on the environment or climate change, a divestment by an investor worth more than US$1 trillion will undoubtedly be seen as a major blow to polluting fossil fuels.
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