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Big Oil Is Safe From Norway Divestments, for Now

  • Opposition party calls wealth fund’s partial exit ‘first step’
  • Divestment expansion likely after 2021 election: economist
A sample of crude oil sits in a glass flask during testing for chloride salt content in a laboratory in an oilfield in Russia.
Photographer: Andrey Rudakov/Bloomberg
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The oil majors are safe from divestments from the world’s largest wealth fund -- for now.

Plans presented last week by the Norwegian government to get the fund out of smaller oil and gas explorers were broadly welcomed by the country’s politicians, but are also being seized upon as an opening to further pressure oil majors such Royal Dutch Shell Plc.