World's largest sovereign wealth fund to scrap oil and gas stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Norway's trillion-dollar sovereign wealth fund plans to dump oil and gas companies from its benchmark index, the finance ministry announced on Friday.

div > div.group > p:first-child"> The move is designed to reduce the aggregate oil price risk in the Norwegian economy, Finance Minister Siv Jensen said in a statement on its website.

After a strong start to 2019 for stocks, the Norges Bank website said late last month that the fund is currently valued at $1.03 trillion.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

A country that actually collectively believes in climate change, aren’t bought and paid for by oil and gas companies? That sounds really nice.

Not having all eggs in the same basket is usually regarded as sound risk management- the riddle is why it has not been implemented long ago.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Norway fund to sell exploration, production firms, keep integrated energy stocksNorway's trillion-dollar sovereign wealth fund, the world's biggest, w...
Source: Reuters - 🏆 2. / 97 Read more »