• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 4 hours Science: Only correct if it fits the popular narrative
  • 42 mins Crazy Stories From Round The World
  • 16 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 14 hours China's Renewables Boom Hits the Wall
  • 21 hours EU has already lost the Trump vs. EU Trade War
  • 2 days ''Err ... but Trump ...?'' *sniff
  • 6 hours Do The World's Energy Policies Make Sense?
  • 15 hours Forget out-of-date 'dirty oil' smear, Alberta moving to be world's cleanest oil industry
  • 8 hours Impeachment Nonsense
  • 2 days Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 2 days Tesla Launches Faster Third Generation Supercharger
  • 21 hours Water, Trump, and Israel’s National Security
  • 2 days Passerby doused with flammable liquid and set on fire by peaceful protesters

Breaking News:

Russia Plans To Boost Crude Oil Exports

Big Changes in Store for Statoil

Bottom Line: Big changes are in store for Norway’s state-run oil giant, Statoil: After winning parliamentary elections last week, Norway’s new Conservative-led government may move to divest 16% of its stake in Statoil to raise $11 billion, while the Norwegian oil giant prepares to sell some of its North Sea assets to Austria’s OMV, and the head of the country’s energy union calls for the resignation of the Statoil CEO after a report reveals significant security gaps ahead of the terrorist attack and hostage incident at the Amenas facility in Algeria early this year.   

Analysis: The Conservative Party of Norway may cut its stake in Statoil from 67% to 51% after winning parliamentary elections last week. The coalition won 96 seats out the total 169 seats to defeat Prime Minister Jens Stoltenberg’s Labor-led coalition. The Conservatives took the majority position within the new coalition, with 48 seats.  It ran on a platform of reducing its economic footprint in Norway by divesting some of its stakes in a range of companies. At the same time, Statoil is also planning to sell some of its stakes in the Gudrun and Gullfaks oil fields offshore Norway, reducing both to a 51% stake—from 75% for Gudrun and 70% for Gullfaks. The assets will go to Austria’s OMV for $2.65 billion. OMV will also buy Statoil’s 30% stake in the Chevron-led Rosebank discovery offshore UK (off the Shetland Islands).  In total, Statoil…




Oilprice - The No. 1 Source for Oil & Energy News