Norway's $1tn wealth fund proposes ditching oil and gas investments

Advice from bank running world's biggest sovereign wealth fund for government to dump oil and gas holdings jolts energy industryThe bank that runs the world's biggest sovereign wealth fund has told the Norwegian government it should dump its shares in oil and gas companies, in a move that could have significant consequences for the sector.Norges Bank, which manages Norway's $1trn fund, said ministers should take the step to avoid the fund's value being hit by a permanent fall in the oil price. Continue reading...