Word: statoil
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...investing a whopping $7 billion in a joint venture that controls huge fields in western Siberia, and in September, France's Total agreed to pay $1 billion for a 25% stake in Novatek, Russia's largest private gas producer. Many other companies, including ChevronTexaco, PetroCanada and Norway's Statoil, are trying to get a foothold. All three recently signed preliminary agreements to work with state-controlled Gazprom, an oil-and-gas behemoth in which German power company E.On holds a 6% stake. And there is widespread speculation in Moscow that Sibneft, an oil company with proven reserves of 4 billion...
...investing a whopping $7 billion in a joint venture that controls huge fields in western Siberia, and in September France's Total agreed to pay $1 billion for a 25% stake in Novatek, Russia's largest private gas producer. Many other companies, including ChevronTexaco, PetroCanada and Norway's Statoil, are trying to get a foothold. All three recently signed preliminary agreements to work with state-controlled Gazprom, an oil-and-gas behemoth in which Germany power company E.On holds a 6% stake. There is widespread speculation in Moscow that Sibneft, an oil company controlled by billionaire Roman Abramovich with proven...
...itself on its immaculate corporate culture. Business is conducted by consensus, and greed is publicly frowned upon. But a series of scandals at some of the region's best-known companies has severely tarnished that image. Back in September, three top executives resigned from Norway's state oil company Statoil for their alleged part in arranging a $15 million "consulting contract" that police fear was used to bribe Iranian officials. Since early last year, Sweden's economic police have been investigating reports that some of the 421 store managers at Systembolaget, the country's state-owned liquor store monopoly, received...
...really a part of the business." Even so, such efforts are unusual in the notoriously dirty oil business. Evidence of alleged bad behavior abounds: this year alone, a U.S. consultant and a former Exxon Mobil executive have been indicted in New York City, the chairman of Norway's Statoil resigned amid bribery charges and a former chief executive and two senior officials of France's Elf Aquitaine - now part of Total - were convicted in Paris, all for separate corruption-related offenses. Unlike consumer-products companies such as Nike, which moved relatively quickly to deal with allegations of unethical labor practices...
Norway's Pride Over a Barrel As Norway's biggest firm, the oil giant Statoil has always played a vital role in the country's self-image. With revenues of $34 billion a year, the state-owned company is seen as a guarantor of the country's social-welfare system. But when Statoil tried to expand its shrinking domestic business by looking for gas in Iran, it ran into trouble. In mid-September, economic-crime police raided the company's Stavanger headquarters; they believe a $15 million payment to the Swiss bank account of a consulting firm may have been...