Over a few-month period in 2011 and 2012, the budget for maintenance tasks was halved at Statoil's Mongstad refinery north-west of Bergen in Norway.
This is according to Dagens Næringsliv, which emphasized that it was Eldar Sætre – current president and CEO of Statoil – who was in charge of the oil refinery when the cost-cutting initiatives were adopted. Sætre was interim CEO of the group with responsibility for Mongstad until the fall of 2014, when he became the permanent head of Statoil group.
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