OSLO, May 11 (Reuters) - Norway's wealth fund, the

world's largest, has sold all its fixed income investments in

Mexican state oil firm Pemex, it said on Sunday, citing what it

called an unacceptable risk that the company is involved in

corruption.

The fund's ethics watchdog, the Council on Ethics, said "its

investigations have revealed that Pemex may be linked to

multiple allegations or suspicions of corruption in Mexico in

the period 2004-2023," it said in a statement.

"The Council attaches importance to the fact that a

significant number of company employees, including a former

senior executive, are alleged to have received bribes on several

separate occasions."

Pemex was not immediately reachable for comment outside of

regular business hours.

The $1.8 trillion fund, which owns 1.5% of listed shares

across 9,000 companies globally, operates under guidelines set

by Norway's parliament and is seen as a leader in the

environmental, social and governance field.