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)