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That it didn't make sense to have pure upstream companies on top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogue with the companies and be part of this transition, the energy transition. we don't think — somebody needs to own these companies and we don't see any problems byjust selling out of the like of bp and shell and so on, where it gets much more valuable and much more powerful to be an active owner and to have a constructive dialogue with these companies. so, this notion that since 2004, yourfund was going to be "...

Economy, are you sending a message that you will divest from oil and gas? no, we are not, and i'll tell you why — in 2019, the oil fund divested the pure upstream oil companies. now, that was not for ethical reasons, that was because we wanted to have diversification risk, because the nation is so dependent on oil that it didn't make sense to have pure upstream companies on top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogue with the companies and be part of this transition, the energy transition. we don't think — som...

Economy, are you sending a message that you will divest from oil and gas? no, we are not, and i'll tell you why — in 2019, the oil fund divested the pure upstream oil companies. now, that was not for ethical reasons, that was because we wanted to have diversification risk, because the nation is so dependent on oil that it didn't make sense to have pure upstream companies on top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogue with the companies and be part of this transition, the energy transition. we don't think — som...

Divested the pure upstream oil companies. now, that was not for ethical reasons, that was because we wanted to have diversification risk. because the nation is so dependent on oil that it didn't make sense to have pure upstream top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogue with the companies and be part of this transition, the energy transition. we don't — think somebody needs to own these companies and we don't see any problems byjust selling out of the like of bp and shell and so on. with the gets much more valu...

Because the nation is so dependent on oil that it didn't make sense to have pure upstream top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogue with the companies and be part of this transition, the energy transition. we don't think somebody needs to own these companies and we don't see any problems byjust selling out of the like of bp and shell and so on, where it gets much more valuable. it's much more powerful to be an active owner and to have a constructive dialogue with these companies. so this notion that since 2004, ...