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Oslo says no to National Oilwell Varco



By Upstream staff 

Oilfield services player National Oilwell Varco has said that Norwegian competition authorities have issued a formal objection to its merger with Varco International, and have said that the company must sell off a number of Norwegian assets.

The merger was completed in March and has received all necessary regulatory approvals except from the Norwegian authorities, the company said.

The combined entity said it would appeal the decision and expects to resolve the dispute without any "material impact".


Friday, 24 June, 2005, 13:18 GMT  | last updated: Friday, 24 June, 2005, 13:18 GMT

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