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US regulators OK StatoilHydro deal



By Upstream staff 

US antitrust authorities said today they had approved Norwegian oil group Statoil's plan to buy the oil and gas assets of Norsk Hydro in a $30 billion deal.

The officials completed their investigation of the deal without taking any action, the US Federal Trade Commission said in a notice.

The tie-up, announced last December, would create the world's biggest offshore oil and gas production company with an expected output of 1.9 million barrels of oil equivalent per day in 2007.

Both Statoil and Hydro have assets in the US, Reuters reported.


Tuesday, 03 April, 2007, 16:55 GMT  | last updated: Tuesday, 03 April, 2007, 18:31 GMT

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