The USD 1 trillion fund shocked markets in 2017 when it asked the government for permission to sell about USD 40 billion in such stocks, arguing a cut in exposure would reduce the overall risk for Norway, western Europe’s biggest petroleum producer. That plan was then heavily diluted in a political compromise that shielded the world’s biggest oil companies.
The final plan from the Finance Ministry released late Tuesday evening in Oslo outlines a divestment that will be even smaller than the government had foreseen in March, when it estimated disposals would total about 70 billion kroner (USD 7.6 billion).
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