Norway

Sovereign funds still hungry for Western banks

19 Jul 2012

Bad early-crisis bets haven’t put rich states off backing global lenders. Qatar and Norway have upped their exposure to Credit Suisse, while Singapore’s Temasek has joined the throng. The enthusiasm reflects a lack of attractive alternatives, as much as hopes for a recovery.

Norway strike challenges crude complacency

9 Jul 2012

Usually the Nordic country barely figures on the list of risks to crude supplies. But striking workers and a threatened production shutdown have contributed to Brent’s march back towards $100 a barrel. It’s a reminder of oil’s ability to surprise, even when demand is weak.

Couche-Tard’s Scandinavian deal looks smart

18 Apr 2012

Though a 53 pct premium for Statoil Fuel and Retail is chunky, the Canadian convenience store chain has shown discipline in the past. It walked from a U.S. deal to avoid a bidding war. Couche-Tard’s new friendly purchase looks promising if it can manage things an ocean away.

Brazil’s oil plutocracy flexes its muscles

30 Jan 2012

A foreign offshore driller has put off its IPO to appease corporate concerns of state-owned giant Petrobras. Meantime, the country’s richest man, Eike Batista, is set to extract his first barrel after navigating the bureaucracy in record time. Brazil’s oil winners keep winning.

No easy fix for Telenor’s India joint-venture spat

17 Oct 2011

Uninor, a joint venture between Telenor and Unitech, needs cash. Telenor wants to raise $1.8 billion of equity but its partner has resisted, instead taking the case to court. Whether Unitech wins or not, it’s hard to see how Uninor can avoid having to bring down its heavy debts.