Fund eliminates possible cuts in Petrobras

Last Tuesday (3), the Norwegian central bank said that Norway's sovereign wealth fund, which manages $1 trillion, withdrew the Petrobras of a list of companies that could suffer investment cuts due to ethical concerns.

The Brazilian state company had been put under observation in 2016 for reasons of risks related to cases of corruption. However, the Ethics Council of the fund assessed that, currently, the risk has been reduced. "This assessment is based, among other things, on the legal agreement closed with U.S. officials, which confirms that Petrobras has implemented extensive improvement measures since investigations began in 2014," he said.


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