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Norway fund to sell E&P firms, keep integrated energy stocks


OSLO (Reuters): Norway’s trillion-dollar sovereign wealth fund, the world’s biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan.

The proposal announced on Friday indicates the fund’s stakes in integrated companies, such as Royal Dutch Shell, Exxon Mobil and other majors involved in everything from exploration to selling fuel at the roadside, will not be sold.

Corporate News , Oil & Gas , Norway

   

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