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CM - US E&P companies to lose Norway as shareholder - June 2019
As expected, the Norwegian parliament voted June 12 to direct the country’s sovereign wealth fund—the world’s biggest, valued at more than $1 trillion—to divest from fossil fuels. The selloff will involve its equity stakes in an estimated 134 publicly traded oil and gas E&P companies, as defined by index manager FTSE Russell, as well as coal, mining and trading houses that engage in related activities. Several dozen American energy companies will lose a shareholder but in most cases the stakes are low—1% or under—and the fund......
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