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Norway wealth fund should keep oil stocks, commission recommends

Norway's massive wealth fund, the world's biggest sovereign investor, should maintain its investments in oil stock, recommends a government-appointed commission.

Siv Jensen, Norway's minister of finance, received the commission's recommendations Friday. | Photo: Ritzau Scanpix/Hakon Mosveld Larsen

A government-appointed commission recommended against a proposal by Norway's USD 1 trillion sovereign wealth fund to dump more than USD 40 billion in oil and gas stocks.

"Divestment of the energy stocks in the Government Pension Fund Global is not an effective insurance against a permanent decline in oil prices," said Commission chair Oystein Thogersen.

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