Company News: State-owned energy firms take steps toward privatization

In recent weeks, two state-owned oil companies-Norway's Statoil AS and Uzbekistan's Uzbekneftegaz-have taken further moves toward their respective privatizations.The Norwegian cross-party parliament committee wrestling with the partial privatization of Statoil and phased sale of the state's direct financial interest (SDFI) in the Norwegian Continental Shelf agreed earlier this month to recommend that as much as one third of Statoil and 21.5% of SDFI be put up for sale.Meanwhile, the Uzbekistan government will announce details on the privatization of Uzbekneftegaz and its subsidiaries during a 1-day conference in Tashkent, May 16.Elsewhere, merger and acquisition activity conti...

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