Norway's USD 1 trillion sovereign wealth fund wants to sell out of oil and gas stocks, arguing that would reduce overall risk to the country since petroleum is already the top export.
But that is a miscalculation, according to the chief executive officer at Total SA, one of the world's biggest energy companies and the Norwegian fund's fifth-biggest oil stock holding. The so-called integrated oil companies, such as Total and the rest of the Big Oil pack, are much more, according to CEO Patrick Pouyanne.
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