Aramco: IPO Will Come Soon
The initial public offering (IPO) for state-owned oil company Saudi Aramco will come soon, and will be a decision taken by Saudi Crown Prince Mohammed bin Salman, the kingdom's energy minister said on Wednesday.Aramco aims to announce the start of its IPO on Nov. 3, three people with direct knowledge of the matter told Reuters on Tuesday, after delaying…
Norway Fund to Double Investments in Saudi Arabia
Norway's sovereign wealth fund, the world's largest, plans to more than double its investments in Saudi Arabia after it is included in the fund's reference index soon, Chief Executive Yngve Slyngstad said on Friday.The fund currently has Saudi assets worth 6.9 billion crowns ($825 million), spread over 42 companies including banks, petrochemicals and healthcare firms.The fund's reference index…
Norway's Wealth Fund: Oil Stocks Sale Will Take Years
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. 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)
Norway's $975 bln Wealth Fund Should Improve Ethical Stance
Norway's $975-billion sovereign wealth fund, the world's largest, should be more forceful in promoting its ethical agenda and influencing the thousands of companies it invests in, a report commissioned by non-governmental organisations said on Monday. The fund, which invests the proceeds of Norway's oil and gas production for future generations, already has rules that stipulate…
Norway's $900 Bln Fund Dropping Firms with Links to Coal
Norway's central bank, which manages the country's $900 billion wealth fund, has excluded another 10 companies from its investment portfolio because they use or produce coal, it said on Tuesday, and another 26 are "at risk" of being dropped. The fund, which invests the revenues from Norway's oil and gas production, is the world's biggest sovereign wealth fund, owning 1.3 percent of all listed company shares globally.
Norway's Wealth Fund to Shun More Coal Users
Norway's $868-billion wealth fund is looking at excluding some 40 companies from its investments due to their use of coal, with these companies being mostly power producers and some already out of the fund's investments, its CEO said on Friday. "In practice ... they are mostly power companies. They are spread across all the countries we are invested in.
Norway's Oil Fund to Target Green Energy Infrastructure
Norway's $850-billion sovereign wealth fund, the world's largest, would target investments in renewable energy, the transport sector and grids, if it were allowed to invest in unlisted infrastructure, the fund's CEO told Reuters on Tuesday. "From our point of view the focus will be on the energy transition, renewable energy," Yngve Slyngstad said on the margins of the COP21 conference in Paris…
Norway's Oil Fund in Consecutive Quarterly Loss
Norway's $863 billion sovereign wealth fund made a loss on its investments in the three months ended September for the second quarter in a row, as stocks continued to drop and Volkswagen weighed on results, the fund said on Wednesday. The fund lost 273 billion crowns ($32 billion) in the quarter, after a loss of 73 billion from April to June, equivalent to a return on investment of minus 4.9 percent in the third quarter…
Norway's Oil Fund Slashes Coal Investments After Criticism
Norway's $900 billion sovereign wealth fund, the world's biggest, has reduced the value of its coal mining portfolio by almost 40 percent in the first quarter, its head told parliament on Monday. Environmental groups and some Norwegian politicians have accused the fund of having too large an exposure to coal and not making enough use of its influence to reduce carbon emissions.
Norway's Oil Fund Down on big Europe Exposure
Norway's $860 billion sovereign wealth fund, the world's biggest, underperformed its benchmarks in 2014 because of its big exposure to Europe and the relatively short duration of its fixed income portfolio, it said on Friday. The fund, one of the world's biggest investors, returned 7.9 percent last year but this was 0.8 percentage point below its…
