Along with Carl Icahn, oil tycoon T. Boone Pickens invented the corporate raider concept.
The move is part of MP Pension’s 2020 ESG plans, which favor the Paris Agreement.
The market thinks the trade war will ax demand, which is pretty good now.
Fund keeps Shell and BP for now, but it will still watch the companies it did not divest from to see if—and how—their ESG efforts are improving.
World’s largest pension fund will dump $13 billion worth of oil, gas, and coal investments.
Recovery in raw materials should persist if an expected end to the trade tiff comes.
Norway wants to reduce portfolio’s vulnerability to oil’s tendency to crash.
While raw materials are no longer slumping, Goldman isn’t that impressed.
Panel says divestment would not protect against a permanent drop in oil prices.
Fund XI focused on upstream sector of the North American oil and gas industry.
The Energy Information Administration reports that the US will likely emerge a net exporter of natural gas next year.
Goal is to make Saudi Arabia less dependent on oil income and attract more foreign investors to the country’s capital markets.