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P408 Monday, 31 December, 2007
NORSOK Reversal?
  • Political Pressure to Limit Pre-PDO Commitments
  • But Liberal/Christian Proposal Defeated
  • Red Herring to Protect against Green Wrath
  • Flexibility Was Important Element in NORSOK Reforms
  • New Rigidity Will Push Costs and Harm Norwegian Industry
P407 Sunday, 30 December, 2007
Carbonized Media
  • Eight Out of Ten Newspapers See Skarv Only as CO2 Problem
  • Includes Aftenposten, VG, Dagbladet, Vårt Land, Bergens Tidende
  • Discover "Quiet" Decision in Parliament 10 Days Late
  • Abyss between Northern and Southern Media
P406 Friday, 28 December, 2007
The Mirror Cracked
  • Correct that SFA Accident "Should not Have Happened"?
  • Public Misunderstands "Zero Discharges" Principle
  • Claims about "Luck" Disguise Thought and Merit
  • Risk/Reward Almost Absent from Discussion
  • Which Other Sectors Have a Lower Risk/Reward Ratio?
  • Doubts Cast over Safety of Northern E&P
  • But Accident Could be Turned to Advantage
  • Philosophy Matters, also for Business
  • Greens Should be Held Accountable
P405 Thursday, 27 December, 2007
Hindsight Wisdom?
  • Statfjord Oil Spill Gone, No Damage Likely
  • Mostly As Expected in High Sea
  • Green Record in Reckless Accusations
  • Accident Apparently Caused by Chain of Events
  • Should it Have Been Anticipated?
  • Or is Criticism Mostly Hindsight Wisdom?
  • Can System Changes Improve Our Performance?
P404 Thursday, 13 December, 2007
What Deal for Northern Norway?
  • Strategy for Northern Petroleum-Based Growth Needed Soon
  • Must Aim at Extending Cluster, Not Creating a New
  • Foreign Policy and Arctic Visions as Umbrella Strategies
  • Efforts Should Target Cluster Mechanisms, Market Failures
  • New Powerful Incentives for Networking Required
  • Major "Southern" Contractors Hold Important Keys to Success
P403 Wednesday, 12 December, 2007
Northern Scenarios
  • FAFO Report Challenges Northern Euphoria
  • Bust After Boom Unless Supporting Policies
  • But "World Star" Industry in the North Also Possible
  • Not Really Contradictory to Earlier, Optimistic Studies
P402 Friday, 7 December, 2007
A Counter-Productive Merger?
  • Gunnar Frognes: Merger Process May Tie Down Organization for Years
  • Most Mergers Fail to Achieve Objectives
  • Merger Didn't Increase Scope for International M&A
  • Statoil Was Already Large Enough for Project Investments
  • Merger May Constrain Rather than Encourage Internationalization
  • StatoilHydro's Size in Domestic Economy Dwarfs Other OECD Giants'
P401 Tuesday, 4 December, 2007
Arctic Enigma II
  • Russian Estimates Dwarf USGS2000
  • Up to 100 bn toe in Arctic
  • Includes 5-10 bn in Lomonosov Ridge
  • Comprehensive USGS Arctic Survey in Pipeline
  • USGS Still Believes in 20-30% of Global Yet-to-Find
  • Unknown Additional Opportunities in More Remote Regions
  • Jury Will Stay Out for a Long Time
P400 Wednesday, 28 November, 2007
Arctic Enigma I
  • "25% Undiscovered in the Arctic" a Misunderstanding
  • USGS Number Covered Seven Not Quite Arctic Basins Only
  • Most Arctic Basins Not Included at All
  • None of Norway's High North Included
  • USGS: "Arctic the Big Hole We Didn't Do"
  • Norwegian Sea Over-Estimated
  • Eastern Greenland Downgraded in 2007
  • Wood/Fugro Yet-To-Find Potential Smaller
  • But the Russians Are Optimists...
P399 Wednesday, 14 November, 2007
What Now With Kon-Kraft?
  • MPE Minister Åslaug Haga Reorganizes Senior Management Forum
  • No Longer Attached to Kon-Kraft
  • Continues as Open Advisory Forum for Minister
  • Kon-Kraft Becomes Industry's Independent Instrument
  • Good Occasion for Rethinking Research and Information Strategies
  • Defensive Strategy Has Failed
  • NRK Web Poll: 54% Say Norway Should Close Oil Production for Ethical Reasons
  • Time to Act on Old Proposal about "Centre for Information and Analysis"
P398 Wednesday, 31 October, 2007
Oil Vs Gas
  • MPE Stops Troll Future Development
  • Supports Long-Standing NPD Position
  • Why Are StatoilHydro Interests Not Aligned to Society's?
  • Answers Relate to Tax System, Resource Management, Diversity
  • Troll Oil Vs Gas Text Book Case for Market Failures in E&P
  • Old Hydro's Final Position Unknown
  • Why Does the Decision Come Now?
  • Cost Increases, Market Situation, Area Impact Contributed
  • Greens Turn Against Resource Management
P397 Monday, 29 October, 2007
A Tribute to Competence
  • StatoilHydro Gets 24% Stake in Shtokman Operator
  • Important Details Unknown
  • How Will Knowledge Benefits Be Shared?
  • Will Companies Be Able to Book Reserves?
  • Will Investment Be Profitable?
  • Is it a Political Deal?
  • Dangerous for Norwegian Interests To Say It Is
  • Important to Increase Momentum on Our Own Side
P396 Monday, 22 October, 2007
Green Imperialism
  • Solheim: StatoilHydro Must Use NCS Standards Abroad
  • Says Government Must Apply Pressure
  • Noreng: Forget about International Growth
  • Is it Fair Treatment of Host Countries?
  • Can All Countries Be World Champions?
  • More Governance By Signalling and Pressure
P395 Monday, 15 October, 2007
Technolab or Sunset?
  • NPD Releases 2007 Resource Report
  • New Scenario Challenge for Politicians
  • Half Today's Production Volume at Stake in Only 10 Years
  • Huge Consequences for Everybody's Economy
  • Outlook Completely Ignored by Media
  • Who Has the Responsibility to Tell People About It?
P394 Monday, 8 October, 2007
Signalling and Harassment for Governance
  • Reiten Steps Down as StatoilHydro Chairman
  • Quotes Partiality over Libya Problem
  • Follows Months of Political Harassment
  • Other Ex-Hydro Officials Under Fire
  • Setback for Integration Process
  • Libya Matter Inherited from Saga
  • Uncertainties About Hydro's Handling
  • Unlikely that Reiten Personally is To Blame
  • Why Leave StatoilHydro If Still Good for Hydro?
P393 Wednesday, 26 September, 2007
Wars of the Greens
  • Centre Party Leader Åslaug Haga to MPE
  • Stronger Minister Benefits MPE in Minor Matters
  • Politics May Change to Oil Industry's Disadvantage
  • Haga Will Make MPE "Ministry for Environment and Climate"
  • More Renewables Primary Objective
  • SV Firm in Belief in Greener Profile
  • Ministerial Competition for Green Hegemony
  • How Will it Be Handled by Labour?
  • SV Leader Says Green Groups are Never Satisfied
  • Spearhead Goes Tired of Spearheads
  • Maybe Voters, Too?
P392 Thursday, 9 August, 2007
Inadequate Options II
  • Government Contains Damage Close to Home
  • Stock Options Like Lotteries in Cyclical Industries
  • Likely to Distort in Favour of Quick M&A Projects
  • Indexed Bonuses More Directly Tied to Value Creation
  • Hydro System Perfectly Fit for Merging with Statoil
  • Did It Actually Distort the Merger Decision?
  • Why Visionary Leaders are Needed But Discouraged
  • Injection of Corporate Perestroika Recommended
P391 Wednesday, 8 August, 2007
Inadequate Options I
  • Dagsavisen: Reiten May Still Be Dropped in StatoilHydro
  • Minister: Hydro Case Closed after Reiten Gave Up 8 Mill
  • Government Sacked Reinås as Hydro Chairman
  • Blatant Violation of Corporate Governance
  • Option Payments Tiny Compared to Enhanced Hydro Value
  • Government Trying to Cash in on Envy, Accusations
  • Still Problems with Hydro Board's Decisions
  • Writing Off Hydro's Option "Investment" Main Error
  • Why Wasn't Option Problem Dealt With in Merger Process?
P390 Monday, 16 July, 2007
Lessons for Norway
  • Total, Gazprom Sign Shtokman Deal
  • Total Says Reserves Can Be Booked
  • Shows Majors Can Adjust to Nationalism
  • Gazprom Says Others Must Top Their Bids
  • What Kind of Politics in the Background?
  • Blow to PM's High North Strategy
  • Norway Must Open More Acreage, Encourage Majors
P389 Wednesday, 4 July, 2007
Conundrum III
  • Better With More Extensive Power for the State?
  • Did the State Pay Too Much?
  • Why Are the Swedes there?
  • Speculations in ESA Objections
  • Doubts about Veto Rights
  • Can We Develop a More Targeted System?
P388 Thursday, 28 June, 2007
Conundrum II
  • Competitive Edge From State Ownership?
  • Aker Trade Union Leader Calls for More Competition for StatoilHydro
  • "War Chest" to be Used for "New Saga"?
P387 Tuesday, 26 June, 2007
Conundrum I
  • State Takes Anchoring Position in Aker Kværner
  • State, Røkke Committed for Ten Years
  • Employees and Trade Unions Jubilant
  • Mixed Reactions from Opposition, Industry, Media
  • Eliminates Risk of Undesirable Takeovers
  • Was the Risk Real, or Part of a Poker Game?
  • Worth Cost of Rigid Structure & State Veto Right?
P386 Tuesday, 12 June, 2007
XXL Wisdom Required
  • Merger Unanimously Approved
  • Reiten Promises "Extra Wisdom"
  • Enoksen Amended Answer on Competition Authority
  • Is Strategy Allowed in Licensing?
P385 Friday, 8 June, 2007
Champion of Risk
  • Statoil to Open Office in Kurdistan
  • Noreng: Could be Seen as Support for US Occupation
  • Statoil and Norway Could Become Targets for Terrorists
  • Minister Won't Intervene in Commercial Decisions
  • National Champions Mean National Risks
P384 Thursday, 7 June, 2007
A Problem Child is Born
  • Full Split in Parliament on Merger
  • Compensating Policies Rejected by Red-Green
  • Opposition Says Break with Consensus is Historic Watershed
  • Promises Rematch after 2009
  • Full Committee Sharpens Problem Description
  • Merger Will Still Pass Unanimously
  • Motion As Good As Non-Confidence against Government
P383 Saturday, 2 June, 2007
Telling Evasions
  • Minister Responds to Third Batch of Conservative Questions
P382 Friday, 1 June, 2007
National Strategy
  • Minister Announces National Strategy for Petroleum Industry
  • Based on Commitment from Government's Founding Declaration
  • Managed by Kon-Kraft and Senior Management Forum
  • Minister Suggests Five Projects
P381 Thursday, 31 May, 2007
Minister in the Fire
  • Enoksen Not Out of the Fire
  • Misinformed about Competition Authority
  • Opposition to Consider Further Reactions
  • Considers Minister's Attitude Arrogant
  • Even Labour Newspapers Disapprove
  • Government Admits to Dropping Authority to Gain Time
  • Brende Asks for More Time
  • Biggest Offence to Silence its Own Controller
P380 Thursday, 31 May, 2007
Opposition Demands Conditions for Merger
  • All Non-Socialists Demand Conditions for Merger
  • Reduced Operatorship Power
  • Equity Sales to New Operators
  • More Acreage for #2 Companies
  • Strengthening of Petoro and the NPD
  • Ownership Governance to Aim at Diversity
  • Diversity Objective in Licensing Rounds
  • Statoil and Hydro Can Solve Problem Themselves
  • Should Present Voluntary List of Divestment and Transfers
P379 Wednesday, 30 May, 2007
Using Trees to Hide the Forest
  • Minister Rejects Safeguards against Further Growth
  • Government Hides Behind Point-to-Point Formalities
  • Refuses to Discuss Strategic Challenges Raised by Merger
  • Why Must Diversity Paradigm Be Less Protected than Others?
  • Important for Power Split between Parliament and Government
P378 Tuesday, 29 May, 2007
Imperfect Argument
  • 136 Operatorship Transfers to Date
  • No Known Significant Damage
  • Costs not Assessed
  • Government: High Risk of Reduced Value Creation
  • Based on Invalid Assumptions
  • Improved Value Creation More Likely
  • General Benefits of Diversity in Addition
  • Merger Itself Represents Record in Transfers
  • Government Won't Discuss Encouragements
P377 Thursday, 24 May, 2007
Face of Power II
  • Competition Authority Started Working on Merger
  • Informed Government, but Was Stopped
  • Unprecedented Gagging, Says Brende (Conservative)
  • Brende Forced Government to Release Authority's Letter
  • Letter Said Impact on Local Supply Market Should Be Assessed
  • Means that Government Should and Could Have Ensured National Jurisdiction
P376 Wednesday, 23 May, 2007
Face of Power I
  • Government Responds to Conservative Questions
  • Admits to Keeping Competition Authority Out
  • Won't Set Safeguards against Further Growth
  • Arguments Circular or Formalist
P375 Friday, 18 May, 2007
Conservatives Taking Action
  • Conservatives Demand Policies to Re-Create Diversity
  • Børge Brende: Major Losses at NCS Must be Avoided
  • Shocked over Government's Passivity
  • Sends New Batch of Questions to Government
  • Initiates Talks with Other Opposition Parties
  • Wants Negotiations with Government
  • Support for Merger Conditional of Response
  • Dagens Næringsliv: Should Have Opposed Merger from Start
  • Lund Says Merger Defensible also for NCS
P374 Friday, 4 May, 2007
  • Statoil Acquires Oil Sands Assets in Alberta
P373 Wednesday, 2 May, 2007
Partnership Governance
  • Oil Companies, MPE, Agree on New Rules for Licence Groups
  • Improved Corporate Governance
  • More Equitable Cost Sharing
  • Satisfies Many Complaints from Non-Operators
P372 Monday, 16 April, 2007
  • MoF Calculates Alleged Petroleum Tax Revenue Loss
  • Highest Number Quoted NOK 150-200 Bn
  • Comedown for Dagbladet's Anti Kon-Kraft Campaign
  • Assumptions from 2004 Combined with Higher Price Path
  • Denies Production Boost from Tax Cuts
  • Implication: No Accumulated Boost from Prices either
  • Progress Party Asks Minister to Assess its own Proposal
P371 Friday, 13 April, 2007
  • Government Replies to Conservatives' Merger Questions
  • Evasions Make Further Investigation Necessary
P370 Thursday, 12 April, 2007
Derailing Tax Debate
  • Claims of Extreme Revenue Loss from Kon-Kraft Tax Proposal
  • Not Supported By Quoted Thesis
  • Media Debate Targeting the Progress Party
  • Kon-Kraft Proposal and Current System Both Outdated
  • New and more Flexible System Needed Soon
P369 Wednesday, 11 April, 2007
Multidimensional State
  • Thesis Posits Alternative State/Industry Reality Perception
  • Kon-Kraft and Tax Project Used as Case
  • Useful for Industry's Own Strategic Planning
  • Kon-Kraft's Shape Should be Reconsidered
  • Media Spill-Over into Debate on Tax Proposal's Merits
P368 Wednesday, 4 April, 2007
  • Government Recommends Merger for Parliament
  • Parrots Companies' Arguments
  • Absolutely No Action Proposed
  • Only Lip-Service Paid to Problems for the NCS
  • "Expects" StatoilHydro to Take Care of Everything
  • Competition Authority Not Involved
P367 Tuesday, 27 March, 2007
  • Political Battle over StatoilHydro in Harstad
  • Raises Broader Issues about Local Benefits
  • Silly to Stumble on Politics in Front of 2010 Opening Decision
P366 Friday, 23 March, 2007
  • Draft Merger Prospectus Submitted to SEC
  • Hydro Demerger Was Starting Point
  • Hydro Considered Other Options Five Days Before Announcement
  • Irresponsible Political Decision Confirmed
  • Companies Prepared for Conditions for Approval
  • Includes Possible Required Divestment
  • Risks Related to NCS Innovation and Efficiency Ignored
  • Companies Expect Increased Market Power
  • Norway Can Demand Use of Competition Act
  • Suppliers Can Appeal EU Approval
P365 Friday, 9 March, 2007
Still Uncertainty
  • Hydro Board Member Asks for Clarification on Name
  • Enoksen's Promise Not to Vote for "Statoil" Confirmed
  • Name Debate May Not Be Closed After All
P364 Thursday, 8 March, 2007
  • Combination Name Only Temporary
  • Means Name Debate is Postponed One Year
  • New Board to Develop New Name/Logo
  • Government Reserves the Right to Keep "StatoilHydro"
  • Enoksen Says Government Won't Insist on "Statoil" Only
  • Time Working for New Name, but Long Stalemate?
P363 Thursday, 1 March, 2007
Wait for the Fat Lady
  • Massive Objections to Merger at MPE Meeting
  • Oil Companies Argue for Operatorship Changes
  • Former MPE Official: Not Setting Fire Better than Trying to Put It Out
  • Opposition in Parliament Moving to "Yes, But Only If"
  • "Enormous Rift" on "New Statoil" Future Value
  • Hydro May Have Large Oil Discoveries in Barents, Libya
  • Mergers Etc Have Failed Before; Telenor, Volvo
  • A Long Time to August
P362 Tuesday, 13 February, 2007
  • Statoil Estimates NOK 4 bn of Cost Synergies
  • Corresponds to Less than 1% of NCS Value Creation
  • Expects More from Improved Performance, Growth Opportunities
  • No Details Released
  • Must Do Better
P361 Monday, 12 February, 2007
Opposition Materializing
  • Conservatives Put 29 Merger Questions to Government
  • Could Oppose Merger Unless Good Answers
P360 Monday, 5 February, 2007
The Postponement
  • 20th Round Postponed by One Year
  • MPE/NPD: Will Help Avoiding Dry Wells
  • OLF Disappointed, Suggests Different Approach
  • Decision Convenient for Greens
  • Also for Some Oil Companies?
  • Something Cooking on Tax?
  • If So - What Should be Done?
P359 Thursday, 1 February, 2007
A Little Cold Water
  • APA06 Largest Round Counted in Licenses
  • 9 Committed Wells Best in North Sea/APA Rounds
  • Still Far Behind History Up to 1996
  • Well Commitments Starting to Become a Good Indicator
  • Majors' Share Continues to Decline
  • Much Lower Share for Statoil/Hydro; Conscious MPE Policy?
  • 10 Companies So Far Unsuccessful, 10 Licences Held Up
P358 Friday, 26 January, 2007
Broken Vow
  • Røkke Feeling Cheated after Hydro Withdrawal
  • Politicians Positive to Hydro/Aker Deal
  • "Three-Way Merger" Would Have Been too Much
  • Lost Opportunity May Cause Sale of Aker Kværner Abroad
  • Ship-Owners' Association Confirms Gazprom Shopping in Norway
  • Opposition Demands Cards on the Table
  • Time-Out Required to Consider New Consensus-Based Solutions
P357 Friday, 19 January, 2007
Pandora's Box
  • Red-Green Activists Try to Take Control
  • Government Soon to Give Boards Opinions on Merger Details
  • Boards to Make Final Decisions in March
  • Next Comes Document for Parliament
  • Repeat Performance of Revolt Against Odfjell Nomination?
  • Name Debate Proxy for Politicizing Merged Company
  • Full Contents of Pandora's Bow Only Revealed in the Longer Run
P356 Monday, 15 January, 2007
First Opposition Response
  • Opposition: Diversity Must Be Re-Established
  • Wants to See More of Large Internationals
  • MPE Minister: Discussion in Document for Parliament in March
  • Will Also Provide Opportunity for Discussing Merger Details
  • Opposition Should Investigate Government's Role
P355 Thursday, 11 January, 2007
Tax Reform
  • Tax Reform to Encourage Majors & Exploration
  • No Change in Current Revenue
  • Only for Future Projects, Lower Prices, Demanding Fields
  • Must Include Oil Price Variability
  • Must Also Cover Different Field Properties
  • Important to Get in Place for Long-Term Predictability
  • Better Incentives Required in Addition to More Opportunities
P354 Wednesday, 10 January, 2007
Institutional Matters
  • Strengthening State Institutions
  • Should Ownership Role Move to the MTI?
  • Should Petoro Be Made Operative?
  • OLF and Kon-Kraft
  • Legislation, Regulation and Licensing Terms
P353 Tuesday, 9 January, 2007
Internationalization Fund
  • Can and Should the Merger Be Stopped?
  • What Should We Do When It Is Not?
  • MPE: No Plans Yet to Counteract Power Concentration
  • Asset Sell-Off not Considered, SDFI Sales Refused
  • Middle/North Norway: More Operators
  • Gusevik: New Giant International Acquisition
  • Creativity and Will to Take Large Decisions Now Required
  • Sell-Down Requirements, But also Positive Incentives
  • Our Suggestion: Internationalization Fund for Leveraging
P352 Monday, 8 January, 2007
NCS Consequences
  • Suppliers Split on Merger
  • Merged Company May Cut Supplier Chains
  • Suppliers Remaining inside Likely to Benefit
  • Merger may Trigger Mergers or Acquisitions among Suppliers
  • Harder for Emerging Technology Firms
  • Possibly Harder for Suppliers to Get R&D Funds
  • Licensing Unlikely to Open Much for Others in Short Run
  • Portfolio "Clean-Up" Because of Area Fee, Not Merger
  • Merged Company Unlikely to Let Go of Main Operatorships Voluntarily
P351 Thursday,4 January, 2007
Democratic Deficit
  • Not Commercial Interests Overrunning Democracy
  • Democratic Objectives Discarded by Political Gate-Keepers
  • Lundteigen, Lied: Should Have Been Open Debate about Principles
  • Schnitler, Dagens Næringsliv: Suppliers Too Dependent to Speak Up
  • Norsk Industri: Enormous Power Challenge for the MPE
  • Professor Wyller: Cannot be Governed against Its Will
  • Former Labour Deputy Minister: State to Govern Statoil - Or Vice Versa?
  • Opposition Goes Along, Worried about Democratic Challenge
  • PM Allowed State's Ownership Role to Govern other State Roles
  • Decision-Making Process Forewarning of Corporative Power
  • "Process will Be on Future Curriculum for State Scientists"