Statoil to Grow Internationally Following Norwegian Divestment

Statoil could opt for an international expansion, taking advantage of the partial divestment of Norway’s government announced in the last months. 

“Diluting the government could really give Statoil a lot of firepower,” Neill Morton, an analyst at Investec in London, told Bloomberg on Thursday.

While the main Norwegian oil and gas companies’ shares gained momentum in the last hours, the Oslo-based company is expected to analyze several major acquisition that could dilute the state’s stake. 

The government pledged to cut its stake in Statoil and Tullow Oil from 67% to 51%. 

"Diluting the state's stake has not been a topic for discussion by parliament so far but I'm sure it will be as part of the upcoming white paper on ownership. This is not something that will happen overnight," Joerund Rytman, trade and industry spokesman for the ruling Progress Party, told Reuters on Friday.