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Sovereign Wealth Funds Briefing - Categorized | Market, Performance

Norway, SWFs lose $5 bln on BP after spill

Posted on 17 June 2010

From Bloomberg: The governments of Norway, Kuwait, China and Singapore have lost 3.4 billion pounds ($5 billion) on BP Plc’s share slide since the Gulf of Mexico oil spill started in April, data compiled by Bloomberg show.
The sovereign wealth funds were four of the 12 largest holders of BP’s London-traded shares at the start of May, the data show. Norway’s state fund held 336 million shares, or 1.79 percent of the company, a stake that’s dropped 1.1 billion pounds in value since the April 20 explosion aboard a rig in the Gulf of Mexico killed 11 workers……………………………………………Full Article: Source

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