Published by Global Banking & Finance Review®
Posted on January 7, 2026
1 min readLast updated: January 20, 2026
Add as preferred source on GoogleNorway's wealth fund cut BP shares to 2.99%, impacting BP's market value. BP shares fell 3.16% amid broader energy market declines.
LONDON, Jan 7 (Reuters) - Norway's sovereign wealth fund cut its shareholding in BP to about 2.99% from around 3.99%, according to a stock exchange filing on Wednesday.
London-listed BP has a market capitalisation of about $91 billion, putting the value of a 1% stake at roughly $910 million, Reuters calculations show.
Norges Bank Investment Management, the fund's operator, declined to comment. BP did not respond immediately to a request for comment.
BP shares were down 3.16% at 417 pence by 1705 GMT, against a 2.1% decline for a broader index of European energy companies.
(Reporting by Shadia NasrallaAdditional reporting by Gwladys Fouche, Dhanush Vignesh BabuEditing by David Goodman)
Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the share price by the total number of shares outstanding.
Equity refers to the ownership value in an asset or company, represented by shares. In finance, it often refers to stock ownership in a corporation.
An investment portfolio is a collection of financial assets such as stocks, bonds, and other securities held by an individual or institution, aimed at achieving specific financial goals.
A trading platform is software that allows investors to buy and sell financial securities, such as stocks and bonds, through a broker or directly on the market.
The financial community encompasses all individuals and institutions involved in the finance sector, including banks, investors, financial advisors, and regulatory bodies.
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