Norway fund's green shift may unsettle Reliance, ONGC, Indian Oil, Oil India
Business / Norway fund's green shift may unsettle Reliance, ONGC, Indian Oil, Oil India
Business - Norway fund's green shift may unsettle Reliance, ONGC, Indian Oil, Oil India
Norway GPFG's decision to stop investing in oil and gas comes in the backdrop of uncertainty in oil markets and focus on renewable energy and climate change. Norway GPFG has invested $658 million in RIL ($485.19 million), ONGC ($108.74 million), Indian Oil ($61.6 million) and Oil India ($2.03 million), where the $1 trillion fund has made investments. GPFG owns stakes of less than 1% in each of the four companies.