Statoil (STO) plans to delay its Johan Castberg project in the Barents sea, blaming proposed...

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO) plans to delay its Johan Castberg project in the Barents sea, blaming proposed changes to Norway's petroleum taxes. STO has said the changes would reduce the attractiveness of future projects, "particularly marginal fields and fields which require new infrastructure," but Johan Castberg isn't a marginal project. STO says it will continue to drill four exploration wells in the area.