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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

UK Government must create a sovereign wealth fund to save North Sea industry

Posted on 18 July 2016

Oil tycoon Algy Cluff is calling on the Government to create a sovereign wealth fund to save the North Sea industry and invest in a gas supply for the country after Brexit. Cluff, who founded and runs Cluff Natural Resources, wants the Government to take charge and invest in the face of the weakened oil price.
He wants the Government-launched Oil and Gas Authority to be able to take equity stakes in companies that want to explore to fund them like an investment or sovereign wealth fund. Norway’s government created an investment fund to re-invest the money it raised from the North Sea oil boom………………………………………..Full Article: Source


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