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Lundin Petroleum ABOTCPK - Current
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  • Thu, Jan. 14, 4:55 AM
    • Statoil (NYSE:STO) has increased its exposure to its home market by buying a big stake in Lundin Petroleum (OTCPK:LNDNY), boosting its presence in the Johan Sverdrup field, Norway's biggest offshore project in decades.
    • The Norwegian state-controlled oil major bought 11.9% in the Swedish company for SEK4.6B ($539M) making the acquisition Statoil's first big deal since oil prices started collapsing 18 months ago.
    | Thu, Jan. 14, 4:55 AM | 8 Comments