Norway’s oil fund wants to divest from ... oil

OSLO: Norway’s sovereign wealth fund, which is fuelled by the state’s oil revenues, wants to divest its oil and gas holdings, the Norwegian central bank which manages the fund said Thursday.

In a letter to the government, the bank said that if the world’s largest sovereign wealth fund—commonly referred to as the “oil fund”—were to divest its oil and gas shares, Norway would be less vulnerable to a lasting decline in oil prices.