At the end of 2016, the fund's equity investments were split between investments in the financial sector (23.3 per cent), industrial companies (14.1 per cent), consumer goods (13.7 per cent), consumer services (10.3 per cent), healthcare (10.2 per cent), technology (9,5 per cent), oil and gas (6.4 per cent), basic materials (5.6 per cent), telecoms (3.2 per cent) and utilities (3.1 per cent).
Going forward, the Ministry of Finance will obtain further information and notify Parliament about the ongoing work in the Report on the Management of the Government Pension Fund, to be submitted in the spring of 2018.
The plan would entail the fund, which controls about 1.5% of global stocks, dumping as much as $40 billion of shares in worldwide giants such as Exxon Mobil Corp. and Royal Dutch Shell.
Matsen said "now is a good time" for the proposal because otherwise the new 70% threshold will result in the fund buying even more oil and gas shares because it tracks indexes that include such stocks.
The fund's biggest oil and gas holding at the end of 2016 was $5.36bn in Anglo Dutch firm Shell, followed by $3.06bn in ExxonMobil, $2.04bn in fellow United States oil firm Chevron, $2.02bn in the UK's BP, and $2.01bn in France's Total.
The proposal came in a letter sent by the central bank to the finance ministry and signed by its governor, Oeystein Olsen, and the chief executive of the fund, Yngve Slyngstad, Deputy Central Bank Governor Egil Matsen said in an interview.
The sovereign wealth fund is the world's largest. In periods of stable oil prices, the returns on oil and gas stocks have largely moved in tandem with the broad equity market.
In addition to its holdings via the fund, Norway has exposure to oil and gas via large untapped offshore hydrocarbon reserves, as well as its 67 per cent stake in the national oil company, Statoil.
Oil and gas stocks would be replaced by investments in other companies.
"This is the biggest pile of money on the planet, most of it derived from oil-but that hasn't blinded its owners to the realities of the world we now inhabit", said McKibben.
The aim is primarily to reduce the fund's exposure to oil price fluctuations.
If it decides to back the central bank's proposal, the country's parliament would be able to vote on it in June 2019 at the earliest. However, it made clear that its recommendation involved divesting from existing oil and gas shares as well as ruling out future investments.
While the fund says the plan isn't based on any particular view about the future of oil prices or the industry as a whole, it will likely add to pressure on producers already struggling with the growth of renewable energy supplies.
And analysts warned that the central bank's proposal could have a knock-on effect on the sector.
His and Meghan's contracts are up at the end of season seven, the current series, and he's believed to want to take some time off. The USA network and a spokesperson for the actor both declined to comment.
In the corner of the image, however, a few letters of the developer's disclaimer can still be seen: "Development footage". The pictures turned out to be screenshots from a video game and old videos shot in Iraq .
Goodell and Jones have had their rivalry intensified by the recent suspension of Cowboys running back Ezekiel Elliott . However, Goodell apparently believes he's doing a fine job and would like to continue doing it.
But if they can win a few of those games, and Aaron Rodgers is eventually cleared to play, it could be enough. Packers rookie third-string running back Jamaal Williams took over from there with 67 yards on 20 carries.
This is identical to Jio's Rs. 1,999 plan , which also gives 125GB data and unlimited voice, SMS and roaming for 180 days. According to the details, Vodafone will offer unlimited local and STD calls to any number in India, even on roaming.
The sources said Broadcom was preparing to submit a slate of directors by Qualcomm's December 8 nomination deadline. Last week, Broadcom made national news by offering Qualcomm $130 billion to acquire the company.
Amazon will certainly survive if it gambles on Lord of the Rings and falls short of taking the crown away from Game of Thrones . Rather than a behemoth series of three 3-hour films however, the new Amazon project will be a television series.
Of course, the score could still change as more critics see the film over the weekend but it's probably not going to go above 50%. EST on Thursday, November 16 in conjunction with the aggregator website's new Facebook show See It/Skip It .
YouTube to promote U.S. concert tickets on artist videos
Music videos consistently are among the most popular content on YouTube , which boasts more than 1.5 billion monthly visitors. YouTube won't cost any more cash than it does already, but soon you'll see concert tickets offered on music artist videos.
Opec Likely to Extend Supply Cuts to Rebalance Market
Bahrain said over the weekend that an explosion that caused a fire at its main oil pipeline on Friday was caused by sabotage. Stocks were 154 million barrels above the five-year average, the excess that OPEC aims to eliminate.
GST Council eases filing norms till March 2018
Restaurants in hotels with rooms above Rs 7,500 per day would continue to pay 18 percent GST with the benefit of input credit. Friday's developments should hopefully be the start of making a fundamentally sound idea good in theory as well as practice.