According to CNN, Norway’s sovereign wealth fund will be dumping 134 oil and gas stocks. The government of Norway announced on Friday that the $1 trillion fund, will begin to gradually phase out investments in energy exploration and production companies. Norwegian finance minister Siv Jensen said in a statement. that the goal of the divestment is to “reduce the vulnerability of our commonwealth to a permanent oil price decline,” The fund has roughly 66 billion Norwegian krone ($7.5 billion) currently invested in energy exploration and production stocks.
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