Statoil interested in acquisitions
Statoil, the Norwegian oil company, is interested in acquisitions, according to Dagens Naeringsliv.
The Norwegian business reported that the oil price is almost down to half of what it was last summer and that Statoil has just written off values of NOK 46bn (EUR 5.4bn), mainly due to North American assets.
The paper cited CEO, Eldar Saetre, who said that opportunities arise when the market is down and Statoil is always interested in ways to develop the company. He said that if the current situation continues, some competitors will suffer financial strain from it. He added however that takeover targets are not cheap anymore.
When asked if the company may wish to buy in North America, he responded that it is possible but that Statoil will mainly continue to evaluate opportunities as they come along.
The original article appeared in print; Page 10
Dagens Naeringsliv