Norway’s oil fund removes Petrobras from watchlist

Norway’s central bank Norges Bank has revoked „the observation” of the Brazilian oil company Petrobras.

The bank manages Norway’s $1 trillion sovereign wealth fund, popularly known as the oil fund, and makes decisions on the observation and exclusion of companies in the Fund’s portfolio. Petrobras was under the bank’s observation since 2016 due to the risk of severe corruption.

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