Norway’s $1 trillion wealth fund proposes to drop oil, gas stocks from index | Reuters

OSLO (Reuters) - Norway’s trillion-dollar sovereign wealth fund is proposing to drop oil and gas companies from its benchmark index, which would mean cutting its investments in those companies, the deputy central bank chief supervising the fund told Reuters, sending energy stocks lower. FILE PHOTO: Oil and gas company Statoil gas processing and CO2 removal platform Sleipner T is pictured in the offshore near the Stavanger, Norway, February 11, 2016. REUTERS/Nerijus Adomaitis/File PhotoIf adopted by parliament, the fund would over time divest billions of dollars from oil and gas stocks, which now represent 6 percent - or around $37 billion - of the fund’s benchmark equity index

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