A Greenpeace activist dressed as polar bear sits in a police car outside Norwegian oil and gas group Statoil's office in Moscow, on April 25, 2013, after he was detained their staged show against Statoil's planned drilling in the Arctic. According to Greenpeace the staged show was aimed to draw attention to the threats of the catastrophic climate and environment consequences of Arctic oil drilling.
Oil and gas majors, including, BP, Shell and Statoil, could face a loss in market value of up to 60 percent should the international community stick to its agreed emission reduction targets.
The suspected violations are related to the Platts' Market-On-Close (MOC) price assessment process, used to report prices in particular for crude oil, refined oil products and biofuels, and may have been ongoing since 2002
Now Chinese oil companies would consider working with Statoil if they want to tap into the Arctic resources. Statoil has advanced offshore drilling technologyMore quotes »
EU probes oil companies for possible price-fixing
into at least three oil companies on suspicion of price-fixing. Britain 's BP, Royal Dutch Shell and Norway 's Statoil confirmed they are subject to the inquiry announced Tuesday by the European Union 's executive arm, the Commission.Statoil said a raid at Read more »
Statoil announces new oil find in North Sea
Michelsen, executive vice president for Statoil's development and production in Norway , called the discovery "a result of Statoil's strategy for revitalization of the Norwegian continental shelf."Norway has stepped up efforts to find more oil near existing Read more »
Statoil to build Arctic oil terminal
in 2018, through a 174-mile (280-kilometer) pipeline to the new terminal outside Honningsvaag, on Norway's northern tip.Statoil vice president Oeystein Michelsen says the project "may spark off a new industrial era" in northern Norway.In 2011 the company announced Read more »
Around the web
The bizarre world of petrol pricing: How it's decided what motorists pay at the pumps
year. Along with taxes, it is the wholesale price of oil that mainly determines the price of petrol at the pumps. The select group at Platts gathers for about half an hour at 4pm each day to assess the day’s trading in oil. During that time, oil firms, trading 5/18/13 from This Is Money Read more »
Can Shell Be Stopped?
mishaps are dissuading other companies that also bought leases in Alaska’s Arctic waters. On March 15, the Norwegian company Statoil indicated that it might abandon plans for drilling in the Chukchi Sea altogether, after previously saying that it would postpone from The New York Book Review Read more »
Fuel price fixing scandal
anti-trust regulators have raided the offices of BP, Royal Dutch Shell and Norway's Statoil. It is believed that the raids are in connection with price fixing but European anti-trust regulators would not confirm or deny these allegations. All three companies from Motortorque.com Read more »
What if there is Peak Oil?
to oil, gas, and drinking or irrigation water. More narrowly, Shell decided not to go back to the Arctic in 2013, and Statoil and ConocoPhillips are waiting on Shell to go to the Arctic. According to mass media, the world is awash in liquid hydrocarbons everywhere. from Energy Bulletin Read more »
What Norway did with its oil and we didn’t
the environment. In 1972, the government founded the precursor of Statoil ASA, an integrated petroleum company. (In 2012, Statoil dividends from government shares was $2.4-billion). In the same year, the Norwegian Petroleum Directorate was also established, from Globe and Mail Read more »