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...united front won't always be enough to eclipse StatoilHydro's biggest rivals. After the megamergers of the late 1990s--such as Exxon with Mobil and BP with Amoco--the Norwegian firm ranks as only the 10th largest in the world in production. StatoilHydro might churn out 1.9 million bbl. per day, but that's less than half the daily output...
...what the Norwegian firm lacks in size, it could well make up for in expertise. Many onshore reserves, which are relatively easy to exploit, are being depleted. So Big Oil is being forced offshore into increasingly complex projects, often at great depths and in harsh conditions. "Each barrel of oil produced tomorrow contains a higher degree of R&D than a barrel produced yesterday," Reiten, a former Norwegian Minister for Petroleum and Energy, told TIME a couple of days before his resignation. With StatoilHydro's decades of experience operating in the tricky terrain and climate off Norway's coast...
...suggested Hydro had done more business with the consultancy than was previously thought. Packed into a room with reporters in Molde, a short drive and ferry trip from Nyhamna, StatoilHydro's new boss Lund scoffed at any talk that the revelations might disrupt the smooth integration of the two firms. "I'm the strongest guarantor for that," he said, shortly before heading to the Ormen Lange celebrations, "and that is my responsibility." As the head of Norway's new, next-generation energy firm, his responsibilities have only begun...
...images of Clinton with Democratic congressional candidate Jason Altmire, who had served on her health-care task force when she was First Lady. It was one of more than 30 negative campaign commercials run against Democratic candidates in which Clinton played a co-starring role, according to the research firm TNS Media Intelligence. "The opposition did research in my district," says Altmire, who won in a squeaker and is not endorsing a candidate. "You can imagine what they might do next cycle...
Peter Ueberroth Former Olympics organizer and director of the Contrarian Group, an investment firm For the 2007 Person of the Year, I nominate Vladimir Putin because he decided to perpetuate himself as a leader, letting the world know he's going to be around for a long time, in and out of office. He won the 2014 Winter Olympics for Sochi, Russia; he went to Guatemala and spoke English to an international crowd. He is an influence on all points of the globe--whether for good or bad, time will tell...