Statoil (ADR) (NYSE:STO)
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An integrated oil and gas company, headquartered in Stavanger, Norway which is based on both production and reserves.
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An integrated oil and gas company, headquartered in Stavanger, Norway which is based on both production and reserves.
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I believe the world is short of energy - cheap oil. There will be dips in the price of oil , but the trend is up, ... all the way UP!
STO is the most active exploration company in Norway - this is reflected in its participation in 90% of the wells drilled in the Norwegian Continental Shelf in 2006, half of those as operator. On October 1, 2007, the merger between STO and Norsk Hydro's petroleum business was completed, hence company renamed to StatoilHydro. I expect share price lift of, ... oh, ... about 20% over the next 12 months.