OSLO, March 4 (Reuters) – Norway’s sovereign wealth fund has excluded London-listed oil and gas explorer San Leon from its portfolio of investments, Norway’s central bank said on Friday.
The company was excluded on the basis of a recommendation from the fund’s ethics council.
“The Council recommends the exclusion of San Leon Energy Plc from the Government Pension Fund Global because the company contributes to serious violations of fundamental ethical norms through its onshore hydrocarbon exploration in Western Sahara on behalf of Moroccan authorities,” the ethics council said in a separate statement.
(Reporting by Stine Jacobsen, editing by David Evans)
Copyright 2016 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.