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Bloomberg: Petronas considers buying Statoil’s stake in TAP project

Sep. 02, 2015 3:58 PM ETEquinor ASA (EQNR) StockEQNRBy: Carl Surran, SA News Editor
  • Statoil (STO +1.5%) is higher after Bloomberg reports that Malaysian state-owned energy company Petronas is interested in acquiring its stake in the Trans Atlantic gas pipeline that runs from the Caspian basin to Europe.
  • STO owns a 20% stake in the project but is executing a capital spending reduction plan amid falling global oil prices as it looks to raise returns for shareholders.

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