Mon, Jun. 23, 10:45 AM
- Norway's government says it will retain its current holding in Statoil (STO), backing off a pre-election proposal to cut its stake to ~50% from the current two thirds of the shares.
- Although the new Conservative government had pledged to reduce the state's role in the economy, the trade minister says STOl has a special place in Norwegian oil and gas policy and there's broad political agreement that the state should keep a majority stake.
- The government also plans to keep stakes in fertilizer producer Yara (YARIY, YRAIF), aluminum producer Norsk Hydro (NHYDY) and bank DNB (DNHBY) at current levels.
Oct. 18, 2013, 8:49 AM
- German chemicals firm BASF (BASFY.PK) and Norwegian fertilizer maker Yara (YARIY.PK, YRAIF.PK) are evaluating a potential joint investment in a "world scale" ammonia plant at the U.S. Gulf coast.
- Yara, with its global ammonia network and market expertise, seeks to increase its presence in the U.S.; BASF, which has a strong U.S. presence, is currently a major user of ammonia for its U.S. downstream manufacturing activities and intends to further strengthen its backward integration.
- Other fertilizer producers such as CF, MOS and AGU could see interest today on the news.
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