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Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) Offloads Oil Field AssetFor $2.5 Billion

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) has reached an agreement for the sale of a majority stake in an offshore oil block in Brazil to Norwegian oil company Statoil ASA ADR (NYSE:STO). According to a statement from the Norwegian company, the deal is worth $2.5 billion for a 66% stake in the BM-S-8 offshore license, […]

Statoil ASA (ADR) (NYSE:STO) To Break Lithuania Dependence On Russia

Boston, MA 08/22/2014 (wallstreetpr) – It has been such that Lithuanians pay about 15% more for gas than their European counterparts because of their dependence on natural gas from Russia. However, that is now set to change with the entry of Statoil ASA(ADR) (NYSE:STO) in the country’s gas equation. Even for Statoil investors, there is […]

In Norway, Royal Dutch Shell Plc (ADR) (NYSE:RDS.B) And Peers Face Uncertainty

Boston, MA 05/09/2014 (wallstreetpr) – The environment of rising development costs is not conducive for oil and gas companies such as Royal Dutch Shell Plc (ADR) (NYSE:RDS.B). In Norway, that is the case. It seems that while oil and gas companies help power projects around the world, they are not themselves seeing light at the end […]

Statoil ASA (ADR) (NYSE:STO) And Talisman Energy Inc. (NYSE:TLM) Exploring Eagle Ford Stake Sale

Boston, MA 05/06/2014 (wallstreetpr) – As per reports from Bloomberg, Statoil ASA (ADR) (NYSE:STO) alongwith its joint venture partner Talisman Energy Inc. (NYSE:TLM) are evaluating options to sell their joint holding in Texas’ Eagle Ford basin. According to people with knowledge of the matter, the sale could bring $4 billion cash to the two entities. […]

Statoil ASA (ADR) (NYSE:STO)’s Q1 Earnings Defied Sector Gloom, Will It Defy Sanctions Against Russia?

Boston, MA 05/01/2014 (wallstreetpr) – Russia is expected to lose sleep over widespread economic sanctions coming from the U.S. and Europe. However, caught in the mix are oil companies such as Statoil ASA (ADR) (NYSE:STO) that have big interests in Russia. Though the company said it would comply with sanctions as required, it might find […]

Strong Project Execution Is Key For Statoil ASA (ADR) (NYSE:STO) Q1 Upbeat Results

Boston, MA 04/30/2014 (wallstreetpr) – Statoil ASA (ADR) (NYSE:STO) strong project development and execution in Johan Sverdrup’s field turned the corner for the company’s first quarter upbeat result announcements despite fall in production. Along with this, higher gas prices boosted its bottom line numbers triggering a sharp jump in the stock price.  While releasing the company’s […]