- Statoil (STO -0.7%) says it may delay an investment decision on its Snorre recovery project in the North Sea after announcing plans last year to build a new drilling and processing platform at the field to extract an extra 300M barrels of oil and extend output until ~2040.
- "We have to revisit the project," CFO Torgrim Reitan says without further explanation, but STO last year postponed its Johan Castberg oil project in the Barents Sea, citing among other reasons a Norway tax change limiting deductions companies can make.
- STO has since cut planned spending by 8% for the next three years and said it would be more selective about which projects to invest in.
From other sites
at Zacks.com (Mar 19, 2015)
at Zacks.com (Mar 17, 2015)
at Zacks.com (Mar 16, 2015)
at Zacks.com (Mar 12, 2015)
at Zacks.com (Mar 9, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs