Norway's $790 bln fund to exclude 5 from investment list

Reuters

(Corrects to show that Shell and ENI not put on formalobservation)

OSLO, Oct 14 (Reuters) - Norway's government has barred its$790 billion oil fund from investing in five companies due toethical issues and placed another two on observation forenvironmental issues, the finance ministry said on Monday.

The fund, one of the world's largest investors, will not beallowed to invest in WTK Holdings Berhad, Ta AnnHoldings Berhad, Zijin Mining Group,Volcan Compania Minera and Zuari Agro Chemicals Ltd.

The government has also asked the fund to include oil spillsand environmental conditions in the Niger Delta as aconsideration, but it did not put Royal Dutch Shell andEni on observation, despite the recommendation of itsEthics Council.

It also asked the fund to raise issues about mining-relatedenvironmental damage with AngloGold Ashanti. (Reporting by Balazs Koranyi; Editing by David Goodman)

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