November 28, 2017 / 10:58 AM / a year ago

Norway's wealth fund says sale of oil stocks will take years

OSLO (Reuters) - The Norwegian sovereign wealth fund’s proposed multi-billion dollar divestment from oil and gas stocks will take many years to complete, Chief Executive Yngve Slyngstad told reporters on Tuesday.

FILE PHOTO: Norwegian sovereign wealth fund (SWF) CEO Yngve Slyngstad listens during an interview in Oslo, Norway, June 2, 2017. REUTERS/Ints Kalnins/File Photo

The $1 trillion fund, the world’s largest of its kind, proposed on Nov. 17 to drop oil and gas stock from its index, but needs approval from Norwegian authorities to do so.

Reporting by Gwladys Fouche, editing by Terje Solsvik

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