Company man says 'we can work it out' as Statoil cuts back
Eldar Saetre became CEO of Norway's Statoil a few months after the oil price began its decline. Since then, he has reduced spending by almost 50 percent from a peak USD 20 billion in 2014.
BY MIKAEL HOLTER, BLOOMBERG
Facing the worst market slump in a generation, Norway's biggest oil producer turned to a company veteran who likes to joke about his roots in a fjord-strewn district known for its penny-wise inhabitants.
Norwegian electricity generation must be doubled in the coming years, says Norwegian Minister of Trade and Industry Jan Christian Vestre during the presentation on national offshore wind export venture.
Hanoi University of Science and Technology (HUST) and the Technical University of Denmark are set to collaborate as part of an Ørsted-funded research project into Vietnam’s options for additional offshore wind.