P01

Tuesday, 17 August, 1999
State Unlikely to Part With
SDFI

• Statoil Partial Privatisation Will be Approved
• State Unlikely to Part With Much of SDFI
• Modifications of SDFI Management Required

P02

Tuesday, 17 August, 1999
Aker Has MPE's Ear

• Ministry Listening to Aker's Desire to Acquire Equity
• How Will Existing Oil Companies React?

P03

Friday, 18 August, 1999
Olav Fjell Statoil CEO

• Olav Fjell - Background Summary
• New Statoil CEO Needs to Focus on Internal Improvement

P04

Monday, 23 August, 1999
Production Cuts May Continue

• Government Considers Continued Production Cuts

P05

Thursday, 2 September, 1999
Hydro Protects Its Own Interests

• Like Statoil, Hydro Takes Care of Its Own Interests
• Principles of Diversity and Gradual SFDI Change Hitting Target
• Other Crucial Issues Evaded

P06

Wednesday, 8 September,1999
Minister Using 16th Round as Bait

• Minister Playing Norwegian and International Companies Against Each Other
• Progress Party Off the Deep End

P07

Monday, 20 September, 1999
Keep SDFI, Says Trade
Union Leader

• Trade Union Leader Says State Should Keep SDFI
• Probably Final Farewell to Statoil's Wish to Take Over All

P08

Tuesday, 21 September, 1999
Purity Of Released Water Another Test Case

• Institute Wants to Enforce Higher Purity of
• Released Water
• Demand Rests on Assumed Risk; No Evidence of Damage
• The Difference Between the Tactical and the Principled Response

P09

Wednesday, 13 October, 1999
Investment And Framework Conditions

• Onshore Investment Dependent on Offshore Investment
• Apropos CO2 Tax: State TV Channel Joins Climate Sceptics

P10

Sunday, 31 October, 1999
Hormesis Challenges Zero Emission Policy

• Low Exposure to "Toxic" Substances Often Beneficial, Possibly in General
• Internationally Travelling Workshop Available
• "Brownie Points" to be Earned by Introducing Hormesis Research in Norway?

P11

Friday, 5 November, 1999
Essensially No From Finance Ministry

• Nothing on General Tax Level in Commission Mandate

P12

Monday, 8 November, 1999
SDFI Solution Still Not Complete

• Media Speculation on SDFI Decisions Close, but Incomplete

P13

Tuesday, 16 November, 1999
New SDFI Cards Played

• International Companies Unite on SDFI Statement
• OLF/NORRET Showing Strength by Exposing Dissent
• Statoil Offering Politicians to be Proxy Borrower of Unneeded Money

P14

Thursday, 25 November,1999
Gambling With The Future

• Politicians and Companies Alike Gambling with Industry's Future
• Candid Description of Reality and Risk/Reward Scenarios Called for
• Companies must Declare a "Good Enough" Strategy - Statoil's Statfjord Plans Encouraging
• MPE must Make Sure Ormen Award is not Misunderstood as Brownie Point Reward

P15

Wednesday, 8December,1999
A New  Statoil  a Major
Mistake

• Creating a "New Statoil" would be a Major Mistake
• Accepting Wrong Premises may Lead to Unfortunate Decisions

P16

Monday, 20 December, 1999
Ormen - Politics Or
Creativity?

• Hydro to develop; Shell to operate.
• A perfect  political  solution  to the Ormen Lange dilemma.
• But is that all there is to it?

P17

Thursday, 23December,1999
Did It Feel So Bad?

• OLF Stands Firm Against Costly Project - Did it Feel so Bad?
• Statoil Dissents, Confirming Beliefs About Lack of Cost Consciousness

P18

Tuesday, 4 January, 2000
Compromise Facilitated

• Labour Leader Says SDFI Must be Protected; Opens for Minor Reform
• Minister Says Reform Should be Decided Now, Definite No to Full Statoil/SDFI merger
• Both Statements Clarifying as Expected, Compromise Should Not be Difficult

P19

Tuesday, 11 January, 2000
Interesting Statoil Recruit; Our Advice

• Stock Dealer Inge K. Hansen New Statoil Chief of Staff
• Will He Understand Need to Purge Staffs Before Going to the Market?
• Time for Statoil to Realise Ministry is its Best Ally

P20

Thursday, 13 January,2000
Rig Cost Drivers Identified

• OLF/NPD Report Confirms Rig Cost Differential UK/Norway
• No More Safety Bought by Higher Costs
• Cultural Changes and Cost/Benefit Evaluations Needed in All Organisations

P21

Friday, 14 January, 2000
OLF Presents Compelling Case For Improvements

• OLF Report: Convincing Reality Description
• Actual Proposals Like Jumping the High Fence
• Strategy Needs Additional Elements

P22

Friday, 14 January, 2000
Statoil-SDFI Merger Buried

• Statoil Moves Back One Base, Joins Industry's Position
• Commercialisation of SDFI Sensible Idea, but Wise to Move Slowly
• Fjell Too Worried About MPE's Intentions

P23

Monday, 24 January, 2000
A Chicken Game

• Centre, Labour in Chicken Game, Both Want to be Rear Party
• Partial Privatisation Still on, but Could Move Much More Slowly
• New Scares About MPE's Gas Solution
• Surprises From Socialist Left Party

P24

Tuesday, 1 February, 2000
16th Round As Expected

• Politicians Will Boast About Successful 16th Round
• New Reminder that Industry Must Rethink its Strategy

P25

Monday, 14 February, 2000
What Kind Of Compromise?

• Labour Agrees to 33% Partial Privatisation, Not Public Statoil
• Unclear Guidelines Suggest Large Transfer of SDFI Gas Equity
• NCS Competitiveness Ignored
• Safeguard Says Change Must Enhance Community's Income
• Compromise With Government May Go Astray

P26

Tuesday, 22 February, 2000
Statoil's Conflicting Signals

• Statoil to Make Significant Cost Cuts, Also in Corporate Staffs
• Statoil Signs Ethics Declaration
• All Commendable, but are Signals Conflicting?

P27

Friday, 25 February, 2000
Parliament Believes We Are Sunset Industry

• Prime Minister, Parliamentary Leaders Concerned About "End of Oil Age"

P28

Friday, 10 March, 2000
Stoltenberg Better for Petroleum Industry in Short Run

• Frøiland, Therkildsen, Akselsen Mentioned as Possibilities for MPE Minister
• Labour Important Anyway, Better Under Influence of Civil Service

P29

Friday, 17 March, 2000
Olav Akselsen to MPE - the Issues

• Olav Akselsen New Minister
• Parliamentary Report May Be Postponed Again
• Modifications of SDFI Management Required

P30

Friday, 17 March, 2000
Akselsen Profile

• Rapid Move From Left to Centre

P31

Wednesday, 29 March, 2000
For the Industry Only?

• Kvitebjørn Major Problem for Ministry
• Several Oil Companies Ignore Mandate of Allocation Committee

P32

Monday, 2 April, 2000
Akselsen On the Wrong Track

• Akselsen: Statoil Privatisation Could Start With Alliance
• Alliance With Gas Buyer Combined With SDFI Transfer A Mayor Mistake
• Better Ways To Find European Gas Allies
• A True Strategy for Industrial Growth

P33

Tuesday, 11 April, 2000
From the Family

• Bjørg K Sandal From Phillips New MPE Deputy
• Erlend Jahns Broli From the Energy Directorate Political Advisor

P34

Friday, 14 April, 2000
Major  Step  Forward

• Several Very Encouraging Features With 16th Round
• Important to Give All Applicants Full and Open Feedback

P35

Friday, 28 April, 2000
Not a Good Idea

• ECON Says Mega-Merger Should be Considered; Suggests New Ministry
• Why There is a Much Better Alternative
• A Dangerous Paradigm: Nationalistic Monopoly (State) Capitalism

P36

Friday, 12 May, 2000
Jumping to Conclusions

• No Gulf Stream Reversion, Says Report
• Less Snow, More Rain in Norway if Earth Warms Up
• Jury Still Out On Human or Solar Responsibility for Climate
• Warming Beneficial, Says US Report
• Why Not Consider "No Regrets" Projects?

P37

Wednesday, 24 May, 2000
Statoil and SDFI As Expected

• Newspapers Closing In On Probable Government Proposals

P38

Thursday, 25 May, 2000
Promising from Statoil

• Achievement Dependent Wages to Be Introduced in Statoil
• Insiders Say Fjell is Wielding Knife Efficiently

P39

Monday, 29 May, 2000
Privatisation May Be Postponed

• NRK Report On More Than 50% SDFI Transfer Probably Quite Wrong
• High Risk That Labour Today Will Postpone Privatisation

P40

Tuesday, 6 June, 2000
End of Forced Marriages

• Group Applications in 17th Round
• Probably Speedier Turnover of Non-Producing Acreage
• More Predictable Licensing Criteria, New Entrants Etc As Expected

P41

Tuesday, 13 June, 2000
Reading On and Between the Lines

• Parliamentary Report Important Step Forward
• Good on Details, Weak on Major Policy Discussion
• Cost Efficiency Focus On and Between the Lines

P42

Wednesday, 21 June, 2000
Time for Dialogue

• Tax Group Proposes Emulated Resource Rent System
• Attractive System, Tough Implementation
• Revenue Neutrality Requires Rate Reductions
• Better for New Entrants & Companies Not In Tax Position
• Most Adverse Effects for Norwegian Companies

P43

Wednesday, 28 June, 2000
Having the Cake, Eating it, and...

• ABB is Taking Over UMOE's Oil & Gas Operations
• Speculations About Further Restructuring
• LO Chief Demands New "Tax on Norwegian Ownership"

P44

Wednesday, 28 June, 2000
Call your Dad, Jens!

• OLF has Completely Rejected Tax Group's Proposal
• Government's Responsibility to Initiate a New Process

P45

Wednesday, 12 July, 2000
The Market at Work

• Aker has acquired 26% of Kværner
• "Røkke/ABB Strategy" Proves "Lund/Hermansen Strategy" Inferior

P46

Thursday, 3 August, 2000
Centre Back to Basics

• Centre Leader Says No To Privatisation
• First Major Break-Out From Centrist Alliance
• Objectives: Gaining Profile and a Negotiating Chip
• Effect: More Possible Scenarios

P47

Friday, 25 August, 2000
Small  Wolves  Only

• New Holding Company Not a New Major
• Statoil Not Against Privatisation In Case of No SDFI Transfer
• No Change  of  Schedule For Parliamentary Report on Regulatory Issues

P48

Friday, 1 September, 2000
Miljøsok in the Norwegian Consensus

• MILJØSOK Says Earlier Ambitions Too High
• Pros and Cons of Norwegian Style Dialogue

P49

Tuesday, 19 September, 2000
Disobedience

• Gasoline Actions All Over Europe
• Why Activists are the Finance Minister's Friends
• Beginning of the End to Green Paradigms?
• The Ethics of Civil Disobedience

P50

Thursday, 28 September,2000
House-Cleaning

• Kon-Kraft With High Ambitions
• Industry Proposes Research Fund, We Have a Suggestion
• OLF Effort to Recruit Young People
• Åsgard Partners Bring Suit Against Statoil

P51

Wednesday, 11 October, 2000
Pipelines and Terminals

• MPE Considers New Gas Pipeline Operator Company Including Terminals
• What it is About, and Not

P52

Thursday, 12 October,2000
Gas and Self Interest - How Far?

• Norway Accepts Shorter Grace Period for Gas Directive
• What is the Relationship Between GFU and Upstream TPA?
• Do We Truly Want to be European?

P53

Thursday, 2 November, 2000
A French Kiss?

• Gaz de France Acquires 12% in Snøhvit
• Hydro Offers Snøhvit Equity for Sale
• Committee to Pass Parliamentary Report by 11 December
• Agip Discovery Confirms Promising Exploration Theory

P54

Tuesday, 7 November, 2000
Theories Astray

• OLF: Tax Proposal Would Kill Development
• Aker: Returns on Human Capital Must be Sheltered
• Shipowners: System OK With Lower Special Tax Rate and Better Shelter
• Ministry Urged to Initiate New Petroleum Tax Study

P55

Monday, 13 November, 2000
The War Continues

• Labour Compromise on Statoil Already Subject to Adverse Interpretations
• Does "No Sale of the State's Shares" Open for the Stock Market?
• Is "Very Predominantly" Less Than 90% of SDFI?
• Solution Designed for Gaz de France?
• No SDFI to Internationals
• War Will Go On, Also In Parliament

P56

Friday, 17 November, 2000
Back on Track

• Statoil/SDFI Proposals to Parliament Before Christmas
• Government Intends to Go to Stock Market First
• Tug-of-War About Sharing SDFI Between Statoil and Hydro
• Conservative Doubts About New State Corporations

P57

Friday, 24 November, 2000
Sharing SDFI

• 20% to Statoil, 10% to Hydro/Internationals?
• Changes Possible both in Government and Parliament

P58

Friday, 8 December, 2000
Sinks, or Sink!

• Failed Efforts to Put Kyoto Back on Track after Hague
• Politicians Between a Rock and a Hard Place
• New Scientific Middle Ground Could Provide an Escape
• More Sinks Must be Allowed for Return to "No Regrets"
• Jupiter & Saturn Conjunction May Reflect Max Point in Climate Variability

P59

Thursday, 14December,2000
Between Nothing and Almost Something?

• Statoil/SDFI Proposals to be Presented Today
• Only 20% of SDFI to Go, Little or Nothing to Internationals
• What Says  Parliament - and EU?

P60

Monday, 18 December, 2000
Reiten

• Eivind Reiten New Hydro CEO

P61

Wednesday, 20 December, 2000
As Expected

• Statoil/SDFI Proposals Sent Parliament
• Sanner Elected

• Parliament Has Approved All Regulatory Improvements
• New Checkpoint in June
• No Sunset Industry, Says Committee
• Committee and Minister Signal Disapproval of Tax Group's Report