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Norway fund to exclude San Leon Energy from portfolio

Reuters - UK Focus

OSLO, March 4 (Reuters) - Norway's sovereign wealth fund has excluded London-listed oil and gas explorer San Leon from its portfolio of investments, Norway's central bank said on Friday.

The company was excluded on the basis of a recommendation from the fund's ethics council.

"The Council recommends the exclusion of San Leon Energy Plc (LSE: SLE.L - news) from the Government Pension Fund Global because the company contributes to serious violations of fundamental ethical norms through its onshore hydrocarbon exploration in Western Sahara on behalf of Moroccan authorities," the ethics council said in a separate statement. (Reporting by Stine Jacobsen, editing by David Evans)