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Statoil ASA Message Board

  • brokestock brokestock Jun 22, 2010 12:08 PM Flag

    How does BP effect STO?

    Does BP's messup effect any work that STO may be doing such as new or existing drilling? Seems like BP has been an anchor around STO's and other's ankles.

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    • Yes, NG will overtake Oil in 5 years. The US has 100 years of NG reserve. Expect more gas powered, truck, power plant, and home heated with NG,

    • Well, I'm pretty sure that deepwater rigs are going to be subject to new safety standards after this, and STO has two deepwater rigs. STO has Gulf rigs, and those are halted right now.

      STO was partnered with BP on a number of projects, including an ocean windfarm. I don't know where projects like that stand in light of BP's deteriorating situation.

      With increased talk about FINALLY looking for an alternative to oil, STO's strong connection to oil could suffer. BUT, I think that STO is better poised to profit from alternative energy investment than not. First and foremost, STO is the second-largest provider of natural gas in the world. If we can evolve beyond oil, natural gas is going to play a strong role in that evolution. Second, STO has strongly invested in other alternative energies, predominantly wind, and could end up poised to capitalize on any initiative in that direction as well.

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