Scolded ex-Statoil boss finally speaks

Helge Lund, the former long-time chief executive of Norway’s state oil company Statoil (now Equinor), is finally speaking out about the huge losses the company suffered in the US on his watch. He now admits that he and his management team invested too much, spent too much, and should have done things differently. The 57-year-old […]

State auditor will probe oil ministry

Norway’s state auditor general (Riksrevisjonen) has decided to examine how the Oil & Energy Ministry has handled its role as the major owner of oil company Equinor. The goal is find out why Equinor’s major shareholder wasn’t aware of the oil company’s huge losses on investments it made in the US. Newspaper Dagens Næringsliv (DN) […]

Calls rise for probe of Equinor losses

Several Members of Parliament, professors and not least editorial writers at Norwegian newspapers are all demanding an external and independent investigation of Norway’s state-owned oil company Equinor. They want to know how Equinor, the former Statoil, could lose a stunning NOK 200 billion on its investments in the US, without the government noticing. An investigation, […]