Statoil CEO points to possible acquisitions

Statoil CEO Eldar Sætre informs that the company is ready to perform acquisitions and is looking into development opportunities in spite of the low oil prices and a struggling energy sector.

The Norwegian oil company Statoil is ready to perform acquisitions and eyes a potential to develop the company, says CEO Eldar Sætre following publication of Statoil's first quarter interim report last week, reports Norwegian newspaper Dagens Næringsliv.

Eldar Sætre was appointed CEO in February, replacing Helge Lund, after having served in various positions at the company during the past 35 years. The first full interim report under his reign was published Thursday, presenting a deficit after taxes of USD 5.2 billion.

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