Statoil (STO) prepares to shut down production on the Norwegian continental shelf following a...

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

Statoil (STO) prepares to shut down production on the Norwegian continental shelf following a notice of lockout from the Norwegian Oil Industry Association to take effect Monday and be imposed on all members of striking unions. The leader of the SAFE trade union says the unions are prepared to strike for "weeks." Brent crude +2.1% to $101.90. STO -3.7% premarket.