- Statoil (STO -0.5%) is studying overseas acquisitions that would allow it to diversify away from Norway and perhaps vault it toward supermajor status among global oil producers, Bloomberg reports.
- Analysts say STO could unlock billions for a large-scale international acquisition if the Norwegian state were to go ahead with proposals to reduce its current 67% holding in the company.
- Diluting the government stake to 51% could allow the issuance of more than $22B in new shares for use in a takeover, at current prices, the report says; STO also has the lowest ratio of net debt to EBITDA among integrated European energy producers, providing plenty of financing room.