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Norway's Statoil exits oil sands projects in Canada
TheLocal.no ^ | 15 December 2016 11:17 CET+01:00 | AFP

Posted on 12/15/2016 9:53:31 PM PST by Olog-hai

Norwegian oil giant Statoil said Thursday it was exiting its oil sands projects in Canada, booking a loss, in a move hailed by environmental activists.

The group said it had reached an agreement to sell its 100-percent stake in the Kai Kos Dehseh (KKD) oil sands projects in the province of Alberta, to the Athabasca Oil Corporation of Canada for CAD$832 million (5.4 billion kroner, $626 million, €597 million).

Following the divestment, Statoil will not operate any oil sands projects, a business area the deepwater oil specialist had moved into to great dismay of analysts.

Statoil will take a loss of between $500 and $550 million on the deal. …

(Excerpt) Read more at thelocal.no ...


TOPICS: Business/Economy; Canada
KEYWORDS: alberta; athabasca; canada; econuts; greenpeace; iran; kaikosdehseh; kkd; norway; oilsands; statoil; tarpits; wwf

1 posted on 12/15/2016 9:53:31 PM PST by Olog-hai
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To: Olog-hai

Is Statoil still operating in Iran?


2 posted on 12/15/2016 10:00:02 PM PST by Dagnabitt (Trump - Because countries without Islamic immigration are countries without Islamic terrorism.)
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To: Dagnabitt
This article is from January and seems to indicate no renewal of ties with Iran, but who knows what may be happening behind the scenes since then.
3 posted on 12/15/2016 10:03:29 PM PST by Olog-hai
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To: Olog-hai

Seems to say they’re sticking to what they know how to do. Of course the crazy ecoloonies will think that they won a major battle.


4 posted on 12/15/2016 10:06:15 PM PST by Mollypitcher1 (I have not yet begun to fight....John Paul Jones)
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To: Mollypitcher1

I suspect someone who does know the oil sands business will swoop in and make a bundle.

Take that eco weenies.


5 posted on 12/15/2016 10:28:44 PM PST by DoughtyOne (jcon40, "Are we be coming into the age of Sanity?")
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To: Olog-hai

Their loss = some else’s gain.


6 posted on 12/15/2016 11:09:18 PM PST by AlaskaErik (I served and protected my country for 31 years. Progressives spent that time trying to destroy it.)
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To: Mollypitcher1

Really, like Athabasca is gonna pay 832 mil for it and then plant trees all over it...


7 posted on 12/15/2016 11:50:23 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Olog-hai

Thanks to Trudeau globulwarming carbon restriction...

Who needs Chavez in Venezuella or Castro in Cuba to steal their own people when you have friends in Canada like this who outright shut down shop!!!


8 posted on 12/16/2016 3:46:02 AM PST by lavaroise (s)
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To: DoughtyOne

Exactly my thought.......we agree, as usual. :>) The “climate” will be more favorable than it has been for fossil fuels now that Trump is in charge. I am looking forward to the destruction of the Climate Clowns and the Environmental midgets. Hooray for Trump!


9 posted on 12/16/2016 8:32:34 AM PST by Mollypitcher1 (I have not yet begun to fight....John Paul Jones)
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To: Mollypitcher1

...and our nation.

“:^)


10 posted on 12/16/2016 11:59:27 AM PST by DoughtyOne (jcon40, "Are we be coming into the age of Sanity?")
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