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10

Statoil ASA Seeks for New State-owned Partners

Norwegian oil and gas producer Statoil ASA is looking for more business alliances with state-owned oil companies,

Norwegian oil and gas producer Statoil ASA is looking for more business alliances with state-owned oil companies, business internet newservice DN.no reported.

Statoil chief executive Helge Lund said his group was working to forge relations with state owned oil groups, but did not give any details.

The Norwegian state has signalled that it will eventually increase its stake in StatoilHydro from an initial 62.5 pct, through on-market purchases, to around two-thirds.