EnergyWatch

Statoil takes cautious step towards more offshore wind turbines

The oil major wants to spend up to one fifth of its huge investment funds on sustainable energy in 2030, and the company will now launch permanent investments in the segment.

Photo: /ritzau/AP/Martin Meissner/

It does not come as a shock to many that Statoil is an oil company through and through.

If anyone was in doubt, they ought to take a glance at the most recent annual report for the company presented in London Tuesday. The report indicates that precisely low expectations for the oil price are the cause of a massive impairment totaling EUR 2.15 billion.

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