Statoil (STO) reportedly is threatening to flag out its operations due to proposed changes in...

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

Statoil (STO) reportedly is threatening to flag out its operations due to proposed changes in Norway's tax rules that could leave it with a huge bill to the government. STO currently is able to claim tax relief on foreign exploration activities while Norway is denied tax revenue from overseas fields brought into production; STO says changes in the tax rules would put it at a competitive disadvantage.