Norway's trillion-dollar sovereign wealth fund, the world's biggest, w...
OSLO - Norway’s trillion-dollar sovereign wealth fund, the world’s biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan.
The state, which has built up its wealth on the back of North Sea oil and gas reserves, also has no plans to sell its direct stake in Norway’s Equinor. Firms to be excluded from the fund would include Cairn Energy, in which the fund had a 1.92 percent stake worth $22 million at the end of 2018, Tullow Oil, in which it held 2.1 percent worth $67 million, and Premier Oil, in which it held 1.8 percent worth $12 million.
Stocks in energy companies, already dropping due to declining crude prices, extended their losses on the news.
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
Athletics: Teenager Ingebrigtsen wins again as Norway thriveNorway enjoyed a bumper night at the European Indoor Athletics Championships on ...
और पढो »
Woman records avalanche crashing toward central Norway homeCOPENHAGEN, Denmark (AP) — A Norwegian woman showed she had quick wits and a cool head by recording a video of a 'dramatic' avalanche as it cascaded toward her house. Gunn Gravem Isaksen, a...
और पढो »
Inter-continental conflict ends peacefully as Norway agrees Canada’s got the bigger mooseAn intercontinental conflict ended peacefully Wednesday as Norway agreed: Canada’s got the bigger moose. One *could* call it.... a moose truce.
और पढो »
Intercontinental conflict ends peacefully as Norway agrees Canada’s got the bigger mooseThe emissaries signed a “moosarandum of understanding,” though onlookers preferred the term “moose truce.”
और पढो »
The assets of Norway’s sovereign-wealth fund fall below $1trnState-owned funds are diversifying their investments
और पढो »
Oil prices dip as U.S. crude stocks swell amid record productionOil prices eased on Thursday, dragged down by record U.S. crude output and risin...
और पढो »
Oil dips on U.S. stocks build, production outlookOil prices slipped on Wednesday as bullish output forecasts by two big U.S. prod...
और पढो »
SoftBank launches $5 billion fund to invest in LatAm tech firmsJapan's SoftBank Group Corp said on Thursday it had launched a new $5 billi...
और पढो »
Asia stocks tentative as Wall Street advance stalls, dollar firmAsian stocks clung to tight ranges on Wednesday, as investors awaited fresh dire...
और पढो »