24.03.2014 - Nordic giants offload Euro1.7mln stake in Providence Resources
The world's largest sovereign wealth fund has sold off its stake in Providence Resources one of the more active companies working in the Irish oil industry. Norway's 602.5bn Government Pension Fund, which is managed by Norges Bank, sold off its 1.7m stake in Providence Resources last year. The decision to pull out of Providence, which is currently drilling oil off the coast of Cork, could be linked to a recent debate in Norway, where the resources-rich country is considering whether its sovereign wealth fund should stop investing in carbon energies oil, gas and coal companies...............................................Full Article: Source
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