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Norway's USD 1 trillion wealth fund reveals thinking on oil risk

Norway's sovereign oil fund, the Government Pension Fund Global (GPFG), admits that the future of the business is very much up in the air.

The man running the world's biggest wealth fund said snapping up oil stocks now could pay off down the line. It's just not a good idea for Norway.

The USD 1 trillion fund, built from Norway's own production of petroleum, shocked markets in November when it announced a proposal to dump oil and gas stocks. The rationale was that given Norway's overall exposure to oil it didn't make sense to also tie up financial assets in the petroleum sector, rather than a view on the future viability of the industry.

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