Norway’s US$1.1-trillion Government Pension Fund Global—the world’s largest sovereign wealth fund—is removing Brazil’s state-controlled oil firm Petrobras from its watchlist of companies that are destined to be excluded from the fund’s investment universe due to ethics violations. Norges Bank, the manager of the Norwegian wealth fund, has decided to revoke the observation of Petrobras under which it had placed it in 2016 following the massive corruption scandal that engulfed the state oil firm and the whole…
