The nation will be "less vulnerable" to a drop in oil by not being invested in stocks of companies in the industry, the Oslo-based fund said Thursday.
"It is not surprising that we see the world's largest sovereign wealth fund managers no longer prepared to take the increasing risk associated with oil and gas assets, which do not have a long-term future", said Paul Fisher of the Cambridge Institute for Sustainability Leadership, in an interview with the Guardian.
"There is a substantial difference.in return between the oil and gas sector and the broad stock market in periods when the oil price changes substantially".
The bank did not set a deadline for when the fund should drop its oil and gas holdings.
According to Norges Bank, their analysis of the oil price risk in Norway's overall wealth fund risk was based on future oil and gas revenues, and its direct holdings in Statoil and the GPFG. The government, which also controls Statoil ASA and offshore oil and gas fields, was forced to withdrew cash from the fund for the first time past year to meet spending commitments after oil prices dropped.
SA Rugby Accepts Rugby World Cup 2023 Vote Outcome The set of rules were broken during that process, which we are upset about", he said, offering a few opaque comments of his own. France has been officially awarded the right to host Rugby World Cup 2023 ahead of Ireland and France in London on Wednesday.
The plan would entail the fund, which controls about 1.5% of global stocks, dumping as much as $40 billion of shares in worldwide giants such as Exxon Mobil Corp. and Royal Dutch Shell.
The fund could still invest in the sector if other parts of the fund's mandate are fulfilled by having some investments in some of the companies, Matsen said.
Nicolò Wojewoda of 350.org Europe was also hopeful about the implications of Norges Bank's decision, calling it "yet another nail in the coffin of the coal, oil, and gas industry".
The fund has grown so large that even though the Norwegian state is taking less than 3 per cent of the fund's value every year for its fiscal budget in recent years, oil spending now accounts for one in five crowns spent by the state. Green campaigners also welcomed the news.
However, ethical investment experts hailed Norges' retreat from fossil fuels.
Video was morphed, says Hardik Hardik said that The ruling party has prepared a doctored sex CD to defame me and it will be released just before the election. On Monday, a sex video allegedly featuring Hardik Patel had surfaced and was aired on local Gujarati TV channels.
"But clearly the direction is that. if the ministry and the politicians think it is good advice and they say yes to it, clearly the investments in the oil and gas sector will decrease over time", he added. "The straight answer is that all other sectors would be weighted up in proportion".
There is a new full raid on the Leviathan called "Eater of Worlds", but it's shorter than the original Leviathan raid. ET, Tuesday, Nov. 21 Watch us preview some of the new activities that will challenge you and your Fireteam.
Some 100 law enforcement officers responded to the shooting, and students at the school have been safely evacuated, he added. A man says his roommate is among the victims in Northern California and that his neighbor was the gunman.
If successful, the Prime Minister has said that parliament should resolve the issue before they break for Christmas. It's been a controversial process, with accusations of ballot-stuffing, homophobic slurs and violence against MPs.
A pair of 2018s major concert tours Taylor Swift and Jeff Lynnes ELO - have announced August stops for downtown Detroit. Tickets start at $49.50 and go on sale Friday, Nov. 17, via 313Presents.com, Livenation.com and the box office.
Broadcom, meanwhile, is seeking to buy USA rival Brocade Communications in a deal being reviewed by Washington. Meanwhile, Qualcomm is trying to acquire NXP for $38 billion but NXPs shareholders are reluctant.
Jeff Sessions's memory works in mysterious ways. "I will not accept and reject accusations that I have ever lied under oath. Testimony before Congress has proved to be something of a thorn in Sessions's side.
His earlier stint was general counsel and deputy secretary at the department in the George W Bush administration. He said Azar, whose own Twitter feed is private, would be "a star for better healthcare and lower drug prices".
In 1979, Saito brutally shot and repeatedly stabbed Sandra Yamashiro before dumping her corpse in a mall parking lot. It's not clear under what circumstances Randall Saito was away from the facility in a Honolulu suburb.
As part of the effort Google is working with sites that list job openings such as Monster, CareerBuilder, Glassdoor and LinkedIn. To help, we're now adding an easy way for you to tell Google what search area to use when finding jobs that match your query.
OnePlus phones include an easily exploitable backdoor
Robot "-smartphones from OnePlus have for years contained a hidden backdoor that would allow root access to the device". Entering the password into the EngineerMode app provides permanent root access to the Android Debug Bridge process.
FBI data shows 18 hate crimes logged in South Dakota in 2016
In a statement addressing the report Monday, the Anti-Defamation League focused on the overall increase in reported hate crimes. Federal Bureau of Investigation data show hate crimes increased across the country from 5,850 in 2015 to 6,121 crimes in 2016.
Corvette ZR1 Will Be Fastest and Most Powerful of Its Kind
Both of the rear wings are attached to the car's chassis - something Chevrolet claims will increase strength and stability. Powered by an LT5 supercharged V8, the ZR1 will produce a staggering 755 horsepower and 715 lb. -ft. of torque.
Italy Misses World Cup as Sweden Wins Playoff
Gian Piero Ventura will surely need to make some modifications to his lineup after such a poor performance in Stockholm. Neither team was particularly impressive in the first leg of this matchup but Italy had a very disappointing display.