Norway Oil Fund Expels China Firm

Norway has barred its oil fund from investing in China's Dongfeng Motor Group because the firm sell arms supplies to military-ruled Burma.

Norway's finance ministry says the Chinese company sells military trucks to Burma.

Finance Minster Kristin Halvorsen said Friday Norway cannot finance companies that support the military dictatorship in Burma through military sales.

Norway's oil fund, officially called the Government Pension Fund-Global, invests the country's oil and gas wealth in foreign stocks and bonds. The fund is meant to save money for the future when Norway's oil supply runs dry.

The fund is currently worth around $300 billion. Norway is a major exporter of oil and natural gas.


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