BTN PETROLEUM CHANNEL 2007 HEADLINES ONLY

BEHIND THE NEWS PETROLEUM CHANNEL (BTNP) - BACK ISSUES 2007
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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 Athabasca	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 Comedown	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 Evasions	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 Mouthpiece	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 Harstad	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 Confirmations	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 StatoilHydro	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 Synergies	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"