Norway Drops Upstream Oil Companies From Wealth Fund

Norway has decided to remove upstream oil companies from its sovereign wealth fund to reduce risk and diversify its investments. This decision, despite a government report advising against it, is seen as a significant move impacting major oil companies like BP, Shell, and Exxon. The decision reflects concerns over being overly exposed to the oil sector, given Norway's status as a major oil producer. While some view this as a betrayal to the oil industry, Norway maintains its focus on diversification, retaining shares in Ecuador's state-run oil company.

What was the primary reason given by Norway for removing upstream oil companies from its wealth fund?

• To increase oil production

• To reduce taxes

• To diversify its investments

• To support local oil companies

How long did Norway consider the decision to remove oil companies from its wealth fund?

• A decade

• Several months

• A few weeks

• Over a year

What did the government-commissioned report advise regarding Norway's decision on oil investments?

• To delay the decision

• To proceed with the decision

• To advise against the decision

• To increase oil investments

Why is Norway not completely eliminating its oil investments?

• They are investing in new oil fields

• They are diversifying into renewable energy

• They are retaining shares in Ecuador's state-run oil company

• They are increasing investments in Ecuador

What is the main reason Norway is taking a drastic approach to its oil investments?

• To reduce its exposure to the oil sector

• To become the largest oil producer

• To support local oil companies

• To increase oil prices