Analyst: Statoil could benefit from Crimea crisis

If the situation on the Crimea peninsula drags on, and Russia wants to put pressure on the EU through energy sanctions, Statoil could make a booming business, says Norwegian analyst.


If developments on the Crimea peninsula escalate even further, Statoil could stand to benefit on the long term, says oil analyst John A. Olaisen of ABG Sundai Collier. Russia is the world's largest oil producer and 25 percent of all the gas currently used by the EU is supplied by Russia. Norway accounts for 20 percent, according to Norwegian newspaper Dagens Næringsliv.

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