Link here to The Dickinson Press.
Last week’s terrorist attack on an Algerian oil facility could divert
Norwegian oil giant Statoil to increased oil production in safer
regions, including North Dakota’s Bakken and Three Forks formations,
where the two-thirds government owned Statoil already has made a heavy
investment.
Five Statoil employees are among the missing after
terrorists took hostages and Algerian forces stormed the facility. At
least 23 hostages died.
Bloomberg News reported this week that
security problems in Algeria and elsewhere in North Africa could prompt
Statoil “to focus even more on shale oil and gas in the U.S. and
deepwater fields off Brazil, where most of the company’s production
growth is expected to occur in this decade.”
The news service
quoted Trond Omdal, a securities analyst, as saying the Algeria attack
will “reinforce a trend … away from high-risk areas.”
A common theme of the Million Dollar Way.
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