StatoilHydro ASA (ADR) (STO)

mwarsell (< 20) Submitted: 5/23/2009 12:11:15 PM : Start Price: $19.43 STO Score: +1.90

An integrated oil & gas company, based in Stavanger, Norway. Has operations all over the world. Operates on 21 international oil fields around the world and 4 in the Norwegian region. 67% state-owned by Norway, one of the richest nations in the world with zero debt. Yes, you read that right. NO DEBT. And 11% SURPLUS budget every year. This means that this company will never go backrupt. Despite only 4 million inhabitants, Norway is the 10th biggest oil producer and 3rd biggest oil exporter in the world.

StatoilHydro (just Statoil in near future after their name change) is a bold firm with operations in places like the Barents Sea where others do not dear to venture.

Production averages more than 1.7 million barrels/day, proven reserves more than 6 billion barrels of oil equivalent. STO is the world leader in the use of deep water technology.

Not only an oil & gas company, StatoilHydro just built the world's largerst floating wind turbine - yes, you got it: harnessing wind power on the open sea. In addition they are about to venture to design and build a massive wind farm on the Sheringham shore in the UK which, when ready, will produce power for 226k British homes.

Wind farms on the open sea - from an oil & gas company? Somehow I don't really see other oil companies doing this. Backed by the massive oil surplus fund of the Norwegian government, there is nothing stopping this player from conquering the world of oil, gas and wind.