The move by the US Treasury Department this week to put Rosneft president Igor Sechin on its blacklist of Russian individuals with close connections with the Kremlin has put Statoil in “a very difficult position”, ABG Sundall Collier analyst John Olaisen told Upstream.
Statoil, which is 67% owned by the Norwegian state, has signed an extensive strategic co-operation agreement with its Russian state-owned counterpart covering exploration in the Barents and Okhotsk seas and exploitation of tight oil in Russia’s Samara region.
The
