#NorgesBank receives criticism of #Israel from its own #watchdog

The central bank of #Norway did not provide sufficient information about what the #OilFund could do with the Israel #investments, according to a #criticism from the bank's representative body.

Reported by E24

– We have said it all along. and we repeat it, that we have to withdraw #OilFund from #Genocide. We cannot live with #Norway being responsible. Now we must stand on the right side of history, but also do the right thing۔
Says Socialist Left #SV leader
#valg2025 #valg25

Norway’s sovereign wealth fund excluded Caterpillar over the use of its bulldozers in illegal destruction of Palestinian property. The U.S. Senator L. Graham protest - calling it a BS decision. The Norwegian people stand firmly behind the fund’s ethical decision 💪
#IsraelPalestine #Norway #OilFund

2 out of 3 voters want the #OilFund to be divested from companies with a high #Risk of involvement in #InternationalLaw violations in #Palestine

The survey shows that 79% of the #Labour Party 🇧🇻 voters want the oil fund to withdraw from such companies.
TV2
#GazaGenocide

Norges Bank 🇧🇻 has decided that 5 #Israeli banks and #US company #Caterpillar will no longer be part of the Government Pension Fund Global; #OilFund

Israeli companies: First International #BankOfIsrael, FIBI Holdings, #BankLeumi, Mizrahi Tefahot Bank, Bank Hapoalim.
TV2

Activists who demonstrated against the #OilFund investments in #Israel have been fined up to 16,000 nok each, fines total over 660,000 nok

Deputy chairman of #Palestine Committee says

– I think it strengthens our claim that #Oil fund's share management is not up for grabs.
TV2

Norway's sovereign wealth fund sells its shares in 11 Israeli companies Managers of Norway’s sovereign wealth fund say it has sold its shares in 11 Israeli companies, a move that they say reduces its holdings in the country against the backdrop of the “serious humanitaria...

‘Norway oil fund sells shares Israel companies’ - @apnews.com

That’s the way!! Thank you #norway

@journalisten-norge.bsky.social

#norgesbankinvestmentmanagement
#nicolaitangen
#oilfund

"Will ask #NorgesBank and the Council on #Ethics for a new review of #Israeli companies." Says former #Norwegian Prine Minister Jens Stoltenberg.

The #OilFund is still invested in the Israeli company Bet Shemesh Engines, which maintains fighter jets in #Gaza

The Storting says no to stricter rules for the #OilFund 's #Israel investments

The #Norwegian Parliament @stortinget.no has voted against a number of proposals to limit the oil fund's #investments in #Israeli companies.
TV2
📸 Cornelius Poppe

US lawmakers move to block IMF Central Africa support over oil fund dispute By Bate Felix and Wendell Roelf DAKAR (Reuters) - U.S. lawmakers have introduced legislation that could block International Monetary Fund (IMF) support for some Central African countries, in an effort to guard billions of dollars that oil companies must set aside for environmental restoration. The bill highlights a standoff between foreign investors on one side, and Central African monetary authorities trying to enforce tighter capital controls on extractive industries to shore up depleted reserves on the other. Introduced by U.S. Republican Representatives Bill Huizenga and Dan Meuser, the bill targets new regulations imposed by the Bank of Central African States (BEAC), the regional central bank, that require international oil companies (IOCs) to deposit the environmental restoration funds into BEAC-controlled accounts. The funds, estimated at between 3 and 6 trillion CFA francs (approximately $5 billion to $10 billion) and currently held in foreign banks, have been set aside by IOCs operating in the region for future environmental clean-up once production ends. Central African Economic and Monetary Community (CEMAC) member states want the funds moved to regional institutions to bolster their economies and foreign currency holdings. The move, backed by the IMF and approved during an emergency summit of CEMAC heads of state in Yaounde in December 2024, is seen by regional governments as a critical step in addressing economic fragility. According to BEAC’s March 2025 monetary policy report, the implementation is expected to take effect from May 1, in line with the summit’s resolutions, with penalties of up to 150% of the restoration funds for non-compliance. BEAC has also suggested raising rates for repatriation to the region of other funds, including for extractive companies’ operational spending, currently set at 35%. Perenco, a privately-held French oil company with significant operations across the region, said it was in negotiations with regional stakeholders to reach an agreement before the April 30 deadline. "Perenco is already complying with the 35% repatriation of funds’ rule, and all regulations currently in place," a spokesperson said. Other oil companies in the region did not respond to requests for comments. In Equatorial Guinea, the finance ministry has met major operators Marathon Oil (NYSE:MRO), Chevron (NYSE:CVX), Kosmos Energy (NYSE:KOS) and Vaalco Energy (NYSE:EGY) to discuss the issue, said one source. DETERIORATING RESERVES The six CEMAC members - Cameroon, Gabon, Chad, Equatorial Guinea, Central African Republic, and Republic of Congo - share monetary policy, a currency, and the common BEAC central bank. They have struggled to emerge from the COVID-19 pandemic and other global shocks, leaving them short of foreign exchange reserves to cover imports and debt. Cameroon’s President Paul Biya warned during the summit in December of "disastrous consequences" for the countries if urgent action was not taken to address their deteriorating net external reserves. Critics, including the bill’s sponsors, argue that the BEAC mandate risks undermining billions of dollars in U.S. oil and gas investments across Central Africa. "By refusing to clarify that these restoration funds will not count towards gross foreign exchange reserves, the IMF has misled the CEMAC member states and directly put tens of billions of dollars of IOCs investment in the region at risk," the bill said. The bill said the funds are contractually restricted and designated for future environmental rehabilitation, and therefore should not be "readily available" or "controlled by monetary authorities to count towards foreign exchange reserves. Under the proposed legislation, the U.S. Treasury would be barred from supporting any IMF proposals involving CEMAC countries until the IMF publicly confirms such funds cannot be classified as gross foreign exchange reserves. The move could bar further approvals of IMF financial support for some countries in the region that rely heavily on the fund’s support, such as Cameroon and the Republic of Congo. The IMF did not immediately respond to questions on the bill’s implications. In a March report, the IMF highlighted serious concerns about the CEMAC region’s economy, warning that without corrective action some countries could face debt levels nearing 100% of GDP and dwindling reserves by 2029. This could worsen liquidity issues and threaten the region’s financial stability and repayment capacity, it said.

Click Subscribe. #IMF #CentralAfrica #OilFund #USLawmakers #EconomicSupport

Norway’s Oil Fund invests 16 Billion NOK in Danish and German offshore wind projects Norway’s sovereign wealth fund (Statens pensjonsfond utland, also known as the Oil Fund or Oljefondet) has announced a major green investment move, acquiring a 49% stake in two large-scale offshore wind projects currently under construction in Denmark and Germany. The deal, worth NOK 16 billion (approx. €1.37 billion), marks one of the fund’s most substantial forays into renewable infrastructure to date.

Norway’s Oil Fund invests NOK 16 billion in offshore wind farms in Denmark and Germany, acquiring a 49% stake in Thor and Nordseecluster projects.

#energy
#norwegian
#oilfund

“We have restrictions today that the #oilfund cannot invest in the defence industry. We’re going to take them away.”

“It’s hypocritical. We are a #Nato member, we are very dependent on the security that the #US can give us. We buy equipment from the same companies but we can’t invest in them.”

€10 milliarder til Ukraina, nå! 🇺🇦❤️🇳🇴

#ukraina #norway #oilfund #gasprofit #unitedEurope #europa