Norway’s $1.9 trillion sovereign wealth fund pared back its holdings in oil and gas majors including Exxon, Shell Plc, Chevron, BP Plc, and TotalEnergies SE in the first half of the year. The fund trimmed its position in Exxon to 1.32% from 1.46% at the end of 2024. Its second-biggest energy holding, Shell Plc, was reduced to 2.55% from 2.78% during the same period. Positions in Chevron, BP Plc, and TotalEnergies SE were all cut, according to holdings posted on its website on Tuesday.

Norway’s $1.9 Trillion Wealth Fund Trims Big Oil Stocks

Norway's sovereign wealth fund reduced its investments in major oil and gas companies such as Exxon, Shell Plc, Chevron, BP Plc, and TotalEnergies SE during the first half of 2025. The fund lowered its stake in Exxon from 1.46% to 1.32%, reduced Shell Plc's holding from 2.78% to 2.55%, and cut positions in Chevron, BP Plc, and TotalEnergies SE as well.