The world's largest sovereign wealth fund will divest $8 billion worth of oil and gas holdings, which could include stakes in Australian companies such as Woodside Petroleum, Santos, Oil Search and Beach Energy.
Norway's $US1 trillion sovereign wealth fund announced on Friday evening it would seek to phase out holdings classified as exploration and production companies from the portfolio in order to "reduce the aggregate oil price risk in the Norwegian economy".
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
Ben Potter writes on energy, climate change and innovation, and has been Washington correspondent, opinion editor and companies editor. Connect with Ben on Twitter. Email Ben at bpotter@afr.com
