Norway's oil fund places Petrobras investment under observation
OSLO Jan 28 (Reuters) - Norway's sovereign wealth fund, the world's largest, has placed its investment in Brazil's Petrobras under observation after the company's involvement in Brazil's largest ever corruption scandal.
The $800 billion-plus fund, charged with the management of Norway's oil wealth, said on Thursday that the decision was on the basis of the fund's ethics council.
At the end of 2014, the fund owned a $163 million stake in Petrobras International Finance, a subsidiary incorporated in Luxembourg, and a $38 million stake in Petrobras Global Finance, incorporated in the Netherlands, according to the fund's annual report.
(Reporting by Stine Jacobsen; Editing by Gwladys Fouche and David Goodman)
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