Norway Drops Upstream Oil Companies From Wealth Fund

Norway Drops Upstream Oil Companies From Wealth Fund

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Business, Architecture, Engineering

University

Hard

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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.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the potential consequences for companies heavily invested in the oil and gas sector due to this decision?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How long did the Norwegian government deliberate before making the decision to divest?

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