Oil and water do mix
The merger last October of Norway's Statoil with domestic rival Norsk Hydro's energy division created the largest offshore oil and gas company in the world, as well as the biggest revenue-producing business in the Nordic region. Petter Kapstad, StatoilHydro's chief risk officer, talks to Rob Davies about the company's approach to enterprise risk management
Fuelled by surging demand from the rapidly emerging Asian economic powers of China and India, as well as fears over supply constraints, the price of oil has almost doubled in the past year. The one-month futures price for Brent crude oil was $66.51 a barrel on May 14, 2007; on May 22, 2008, the price stood at $130.51. Furthermore, the likes of Goldman Sachs have predicted oil prices could touch $200 within the next two years.
StatoilHydro, the largest revenue-generating company in the Nordic
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