Statoil sees continued M&A

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The Norwegian oil giant Statoil is interested in acquisitions, according to chief financial officer, Torgrim Reitan speaking at the release of the company’s annual report yesterday.

Reitan said that the company plans to invest up to US$21bn until 2020 and will continue to acquire assets which have a potential to grow significantly and that changes will be made within the company’s portfolio.

The CFO said that Statoil will consider all opportunities, even large ones. Acquisitions and disposals have always been a part of the company’s plans and this will not change, he added.

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