StatoilHydro Hopes to Double its U.S. Oil Output

Posted on 05/22/2009


Norwegian oil money is flowing southeast to the Gulf of Mexico. Norway’s state-backed oil company, StatoilHydro ASA, is seeking to double U.S. production by the end of 2009. This is occurring as new oil platforms start to extract crude oil from the Gulf of Mexico. StatoilHydro committed US$ 11 billion to reconnect a U.S. presence […]