Companies worldwide are running the rule over their asset portfolios and more sales by majors such as Statoil are possible as they seek to boost returns on investments after being hit by higher costs that have slashed cash flow and margins, Wood Mackenzie’s Norway analyst Malcolm Dickson told Upstream.
The Norwegian state-owned giant is looking to cut annual capital expenditure by $5 billion over the next three years in an effort to raise its profitability margins by 24%.
“We
