Norway finance ministry begins public consultion on proposal to remove oil stocks from fund's index


Norway’s finance ministry said  it would start public consultations on the central bank’s proposal to exclude oil and gas sector from its sovereign wealth fund’s equity benchmark index.

The ministry also said it had appointed an expert group, led by Oeystein Thoegersen, the head of a Norwegian business school, to consider the proposal. It would will seek additional information from the central bank on its proposal.

The board of the central bank proposed in November to remove oil and gas stocks from the fund’s equity benchmark index, sending energy stocks worlwide lower.