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P350 Friday, 29 December, 2006
Why Did It Happen?
  • Removing Rest of Hydro Discount Paramount Driver
  • Necessary to Take Care of Aluminium
  • When and How Did Other Doors Close?
  • What Was the Impact of the Shtokman "Njet"?
  • Merger Talks Started Summer of 2006
  • Other Options Alive Until Only Short Time Ago
  • Stoltenberg Has Misguided Public for Years
  • Companies Not Much Better
  • Feeble Non-Socialists must Share Responsibility
  • Hydro Failed Its Corporate Social Responsibility
P349 Friday, 29 December, 2006
How Did It Happen?
  • Hydro Strategy Discussed Since Nineties
  • Vital to Focus on Core Competence
  • Saga, SDFI, Spinnaker, Centrica Efforts to Gain Size
  • Yara Demerger Proved Conglomerate Discount
  • Statoil Restricted, Eyes at Hydro for a Long Time
  • Steensnæs Closed Doors in 2002
  • 2004 Promise: No Merger for a Very Long Time
  • But Statoil Had Secret Hydro Task Force Since 2001
P348 Thursday, 28 December, 2006
Size No Easy Fix
  • Statoil/Hydro Internationalization Important
  • GoM Most Important, But Assets Expensive
  • Nationalism, Corruption Obstacles in Third World
  • Finance Minister: Stricter Ethical Rules
  • Diversity Some Advantage Abroad As Well
  • Size No Help Against "Escape Cost", Provincialism
  • Size Helps for Attention, Risk Distribution
  • Merger May Help Competing With Capacity Constrained Competitors
  • Better for Growth than Doing Nothing, Bad for Diversity
  • More Efficient Strategies Possible While Retaining Diversity
P347 Thursday, 21 December, 2006
Diversity Lost
  • Stoltenberg: Diversity Less Relevant
  • Opposition Parties, Researchers Etc. Worried
  • Few Realize How Strongly the Norwegians Dominate
P346 Wednesday, 20 December, 2006
The Giant
  • Merger Means Dangerous Loss of Diversity
  • Larger International Muscle, Effects May be Overrated
  • Better Strategies for Internationalisation Ignored
  • Authorities Should Require Sales of Assets, Operatorships
  • Vital to Encourage Other Companies
  • Decision-Making Process Ominous Warning about Future
  • State Buy-Up May Cause Fears of More Intervention
P345 Monday, 11 December, 2006
Trap Sprung
  • Parliament Agrees to New Tax Rules on Financial Items
  • Progress Party, Conservatives Vote Against
  • Industry Rejects MoF Argument on Newcomers Having Been Favoured
  • New Rule Causes Disincentives for all Companies
  • Means Tax System Sooner Will Become Limiting E&P Factor
P344 Tuesday, 28 November, 2006
Knowledge about Knowledge
  • OLF, Tekna, Present Petroleum Cluster as Growth Model
  • Petroleum Cluster Norway's Largest Onshore Industry
  • Will Evolve and Continue Indefinitely, No Need for Inventing "Something New"
  • Knowledge Base Also Offering Spin-Offs to Other Sectors
  • Key is Learning More about Knowledge as a Production Factor
P343 Wednesday, 22 November, 2006
The New Diversity
  • Are New Entrants Good for Cluster Development?
P342 Friday, 17 November, 2006
Scared by the Scared
  • Draft Parliament Report on High North Leaked to Media
  • Not Much New; Useful Summary of Ongoing Projects
  • Government has Invited to Talks with Russians on Industrial Zone
  • Arve Johnsen's Research Agenda Cleansed by Green Filter
  • Nothing on New Technology for Moving Further North
  • Labour's Visions at Rest to Help Left Socialists Lick their Wounds
P341 Monday, 13 November, 2006
Three Suggestions
  • Some Preparations for the Management Plan Are Not in Progress
  • Better Organization for Oil Spill Contingency
  • Improved System for Covering Fishermen's Risk
  • Creating a Better Upside
P340 Wednesday, 8 November, 2006
  • OLF: Insufficient Funds for Management Plan Preparations
  • Good Example of Limitations with Short-Term State Budgeting
  • Split Sector Interests Make Rational Planning Difficult
P339 Tuesday, 7 November, 2006
Emptying the Drawer
  • OLF: Investment Could Drop Dangerously in Five Years
  • Lofoten/Vesterålen Acreage Urgently Needed
  • Exploration Continues to Lag
  • Only Three Dry Wells in True Frontier Prospects So Far
P338 Sunday, 15 October, 2006
Back to the Moon
  • State, Statoil Agree on Mongstad Heat and Gas Power Plant
  • Time Allowed to Develop New Capture Technology
  • New "Man on the Moon" Program
  • From "None Without" to "Many With"
P337 Thursday, 12 October, 2006
Financial Items
  • Proposal on Financial Items to Parliament
  • Improvements on Several Points
  • Revised Proposal Now Being Studied by Companies
  • MoF Weak on Effects on Incentives, May Still be Damaging
P336 Tuesday, 10 October, 2006
A Back Door Still Open?
  • Gazprom Turns Down All Foreign Partners
  • Says None Would Offer Sufficiently Good Assets in Return
  • Pipeline Gas to Europe Given Priority Above LNG for the US
  • Large Variety of Speculations
  • Has Gazprom Simply Ended a Chicken Game?
  • Aker Kværner Well Positioned Anyway
  • Could Statoil/Hydro Later Get in as "Technical Assistants"?
P335 Saturday, 30 September, 2006
  • 43 Companies Apply in APA06
  • Up 16, Down 2 Since APA05
  • 22 Also Applied in 19th Round
  • 8 Newcomers Still Waiting
P334 Wednesday, 20 September, 2006
  • NHO Protests Negative Attitude in Research Council Plan
  • High North Strategy Plan Deficient on Industrial Development
P333 Wednesday, 20 September, 2006
Barents 2020
  • Former Statoil CEO Gives Contents to Barents 2020
  • Proposes Joint Onshore Economic Zone
  • Research Projects Joining Norway, Russia, EU, Others
  • Norwegian Corporations Confirm Roles as Project Leaders
  • Joint Private/Public Financing
  • Greens Say they are Scared
P332 Tuesday, 19 September, 2006
Cluster Ownership Strategy
  • Hvem Eier Norge? Important for the Petroleum Industry
  • Are We Good Enough at Nurturing New Ideas?
  • Are We Under-Balanced on Cross-Border Knowledge Firm Acquisitions?
  • Questions Raised By Kon-Kraft's Capital Project Still Unanswered
  • New Studies Indicated for a Cluster Ownership Strategy
P331 Tuesday, 22 August, 2006
Northern Spin-Offs
  • New Barlindhaug Report on Northern Spin-Offs
  • Large Potential, Based on Particular Assumptions
  • An Industrial Strategy for Better Cluster Functions
  • Onshore Facilities Or Pure Offshore Solutions?
  • Local or Imported Labour and Knowledge Resources?
  • Total Activity Level Vital for Critical Mass
  • No Room for Internal Northern Rivalry
P330 Monday, 21 August, 2006
  • OLF, Newcomers Protest MoF Proposal On Financial Items
  • Likely to Increase Revenue Considerably
  • Moves Offshore Related Financial Expenses Onshore
  • Particularly Harmful for New Entrants, Pure E&P
  • Incentives Contrary to Policies
  • Too Short Time For Review Process
  • Possible Solution in Modified Standard Formula
P329 Friday, 18 August, 2006
Success Not Enough
  • Offshore Suppliers Sold For NOK 49 Bn Abroad in 2005
  • 46% of All Upstream Related Sales
  • Approx NOK 32 Bn Direct Exports from Norway
  • Larger Than All Traditional Export Industries
  • Intsok Major Success
  • Much More Still to be Done
P328 Wednesday, 9 August, 2006
New Profiles II
  • Poor NCS Access For Non-Independents Before 2000
  • Many Arrived Before Tax Change, Oil Price Increase
P327 Tuesday, 8 August, 2006
New Profiles I
  • Diverse Group of New Entrants
P326 Friday, 4 August, 2006
Not Upside Down
  • Dagens Næringsliv: NCS Reality Turned Upside Down
  • "Three Times as Many Oil Companies"
  • Actually, There is Much Less Change, But Promising Potential
  • 16% Growth in Number of Active Companies Since 1993, Not 200%
  • New Entrants Hold 3% of Booked Reserves
  • Partners In 12% of Exploration Wells Since 2000
  • Add 25% to Global Market Capitalisation
P325 Monday, 24 July, 2006
Home and Away
  • Shtokman Postponed Again
  • Putin Says Norwegians Among First On List
  • Greenland Announces License Round West of Greenland
  • 15 Top US, European Companies Review Data
  • US Newspaper Believes Statoil is Among Them
  • Biggest Greenland Potential to the Northeast
  • Russia, Perhaps Greenland, Important for Cluster Strategy
P324 Friday, 7 July, 2006
Parking Tickets
  • The MPE Implements Area Fee Changes
  • Aims to Increase Turnover of Idle Acreage
  • Sharp Progression After Initial Period
  • Exempts Areas With Production, Drilling, Prospects
  • May be Waived If Progress Not Possible
  • Weak Analysis of Socio-Economic Utility
  • Sales Vs Relinquishments Will Help Assessing Success
  • The MPE Ignores NPD Proposals to Avoid Premature PDOs
P323 Tuesday, 20 June, 2006
Selling Forward
  • Wiborg: Sell Oil in Futures Market for CO2 EOR
  • Requires Achieved Price Accepted for Taxation
  • Balance of Arguments So Far that Futures Market is Hyped
  • Why Not Open For This Opportunity for Sales From All Sources?
P322 Wednesday, 14 June, 2006
Financial Costs Again
  • New MoF Proposal On Financial Items
  • Said to Represent Simplification
  • Assumed Revenue Reduction May Be Balanced
P321 Tuesday, 13 June, 2006
Whose Knees?
  • PE Releases Gassco Report
  • Confirms All CO2 Chains Unprofitable
  • State's Petroleum Tax Revenue Already Included
  • Bellona Claims Opposite
  • Other Problems Quota Costs and Sunk Costs
P320 Monday, 12 June, 2006
Politicising Statoil
  • PM Admits to Sacking Odfjell
  • Says He Responded to MPs' Demands
  • Implication that Red-Greens in Parliament De Facto Should Appoint the Chairman
  • Position has Now Been Explicitly Politicised
  • Large Battle Scars Within Labour
  • Parliament Closes the Case
P319 Friday, 2 June, 2006
Midnight Calls
  • Odfjell Withdraws As Statoil Chairman
  • PM Confirms Midnight Calls
  • MPE Minister Enoksen Overrun
  • Opposition: LO Runs the Government
  • Lindbæk Stays in Office, Perhaps for a Year
P318 Sunday, 28 May, 2006
Naughty Norway
  • Financial Times Ties Norway to Bolivia Nationalisation
  • Hints Norwegian Advisers Cause Strict Terms in Third World
  • Suggests Statoil, Hydro May Benefit
  • More Political Interference to be Found Elsewhere
  • But Advisers May be Preoccupied With "Steering and Control"
  • Checking Manuscripts for Balancing Paradigms a Good Idea
  • Should Norway Help Evaluating Nationalised Assets?
P317 Saturday, 6 May, 2006
  • Professors Propose Thorium-Based Nuclear Power Process
  • Norway Has the World's Third Largest Thorium Deposits
  • No Short/Middle Run Option, But Interesting Long-Run Possibility
  • Among Possible Bridge-Builders for Long-Term Petroleum Cluster
P316 Wednesday, 19 April, 2006
Cluster Test
  • Integrated Operations Could Increase Field NPV by NOK 250 bn
  • 60% Could Be Lost in Case of Three Year Delay
  • Experts Do Not See Full Effect from Likely Efforts
  • Aggressive, Concerted Effort Required
  • New Technology Must be Implemented Quickly
  • Authorities Must Contribute With R&D
  • Statoil in Cooperation With Global Technology Leaders
P315 Wednesday, 5 April, 2006
All is Not Well
  • 13 Licenses Awarded in 19th Round
  • Four Firm Wells
  • Hard to Describe as a Success
  • BG Group Saves the Day
  • Hydro-Led Group in Near-Coast Finnmark License
  • Møre Near-Coast Blocks Not Awarded
P314 Monday, 3 April, 2006
Compromise and Rematch
  • Management Plan to Be Reconsidered in 2010
  • Seismic Surveys Allowed in Nordland VII, Troms II, Egga Edge
  • 35/50 km Protection Zone in Barents Sea
  • No Consistent Risk Management Approach
  • Precautionary Principle Only "One of Several Possible"
  • Going Slow Risky for Foreign Policy, Technology Edge
P313 Friday, 24 March, 2006
Exploration and Oil Price
  • Researchers Estimate Oil Price Impact on Exploration
  • Long-Term Elasticity 0.2-0.4
  • Could Suggest USD50 Not Enough to Reach NPD Target
  • Elasticity Lower in Regulated Regions With High Taxation
  • Model Doesn't Explain Low Exploration Level Up to 2005
  • Could Tax/Materiality Explain Variable Elasticity?
P312 Friday, 10 March, 2006
Not Worst Case
  • Statoil/Shell Propose CO2 "Value Chain"
  • Politicians Queue to Sign Blank Check
  • Better Than Uncontrolled Run for Subsidies
P311 Monday, 21 February. 2006
  • 192 Blocks Offered in APA06
  • APA Area Extended With 11 Blocks
  • Greens Complain, As Usual
P310 Monday, 20 February, 2006
The Battle of the XXXs
  • Draft Management Plan Leaked
  • Salient Points Shown as "XXX"
  • Discussion Reasonably Balanced
  • Financial Risk/Reward Estimates Missing
  • Left Socialists Formally Give Up Permanent Protection..
  • .. But Arrive There Anyway!
  • Labour Said to Prioritise Re-Opening of Finnmark Near Shore
  • Appearances Most Important for the Left Socialists?
P309 Friday, 3 February, 2006
Drilling Cycles
  • Rig Market Expected to be Tight For Many Years
  • How Much Drilling Is Lost Over the Oil Price Cycle?
  • How to Correct Possible Major Market Failure?
P308 Thursday, 2 February, 2006
The Productivity Mystery
  • Industry Minister Speaks on Innovation
  • Little Change From Bondevik
  • Remarkable Omission of Petroleum Industry
  • Major Clusters Still Undiscovered
  • Productivity Mystery Still Unsolved
  • May Cause Over-Spending on Programs for Other Sectors
  • Aker Should Show its TV Commercial for the MTI
P307 Friday, 19 Januar, 2006
Closing and Un-Closing
Minor changes made since e-mail version.
  • Enoksen: Goliat Solution Up to Industry
  • Technology Likely to Open for E&P Also Outside Lofoten/Vesterålen
  • Top-Level Nordland Group Says Nordland VII Process Should Start Now
  • Nordland VII Could Be Part of the 21th Round
P306 Friday, 13 January, 2006
War of the Words
  • PM: Business As Usual for Goliat
  • Environment Minister: Not Necessarily Development
  • NPD CEO: Shock Waves in Milano
  • Industry Minister: Socialist Left Party Will Come Along
  • Impossible for Labour to Deny Development
  • Mostly a War of Words, but Casualties Possible
  • Risk of Trade-Offs to Left Socialists
P305 Friday, 6 January, 2006
Total Acquittal
  • MoF Decides Fund is Not to Divest From Total
  • Important Guidelines in Council's Recommendations
  • Fund to Pull Out From Seven Nuclear Weapons Equipment Producers
P304 Sunday, 1 January, 2006
  • New Rules for Use of Facilities by Others
  • Still Discussions About Area Fee
P303 Sunday, 1 January, 2006
Saving Politicians From Themselves
  • Gassco, Petoro, Gassnova, MPE to Study "CO2 Value Chain"
  • Gassco Chairs Industry Group to Study Gas Pipeline to Grenland, Sweden
  • Tails Wagging Dogs