22.10.2013 - Will Norway's green aspirations hurt Statoil?
The Norwegian government is looking at making more green investments. Seeing as Norway runs a sovereign wealth fund worth around $700 billion and is the majority owner of the oil major Statoil , its investment decisions impact the real world. It is unlikely that Statoil would be forced to make unprofitable investments just to tickle Oslo's fancy, but it is still important to examine all of the options. Statoil's history in renewables: The company has had small interests in renewables for a number of years. The encouraging news is that a number of its green investments are in wind-related resources. It recently acquired a 70% interest in the Dudgeon wind project in the U.K. It also has joint ownership of the Sheringham Shoal offshore wind farm...............................................Full Article: Source
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