November 16, 2017 / 1:19 PM / in a year

Norway government to conclude on potential wealth fund oil, gas divestments in 2018

OSLO, Nov 16 (Reuters) - The Norwegian government plans to decide in the autumn of 2018 on whether to back a proposal from the country’s wealth fund to cut oil and gas companies from its benchmark index, the Finance Ministry said in a statement on Thursday.

“The issues raised by Norges Bank are complex and multifaceted. The advice from the Bank requires a thorough assessment, in line with established practice for key decisions on the management of the Fund,” Finance Minister Siv Jensen said.

“Furthermore, the Government is responsible for the Norwegian economy as a whole and must take a broad and comprehensive approach to this issue,” she added.

Any proposal by the finance ministry must be approved by Parliament. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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