Offshore

Norway wealth fund gets nod to sell USD 6 billion in oil stocks

Norway's sovereign wealth fund gets the go-ahead to sell oil and gas stocks for a value of close to USD 6 billion after a two-year process that has seen an initial proposal to offload all its oil investments be reduced to what amounts to a smaller investment.
Photo: Marit Hommedal/AP/Ritzau Scanpix/AP
Photo: Marit Hommedal/AP/Ritzau Scanpix/AP
BY MIKAEL HOLTER AND SVEINUNG SLEIRE, BLOOMBERG

Norway’s massive wealth fund got the go-ahead to sell oil and gas stocks worth USD 5.9 billion, ending a two-year process that has reduced an initial proposal to dump all its petroleum investments to a more moderate divestment.

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