WATCHING THE WORLD STATOIL'S DOWNSTREAM PINCERS MOVEMENT

With David Knott from London While most oil companies are treading water in the retail sector, Norway's Den norske stats oljeselskap AS (Statoil) is expanding. The company intends to become a leading retailer around the Baltic and North seas. Most of Statoil's income comes from upstream. In first half 1993 the exploration & production division made a profit of almost 5 billion kroner ($680 million), more than tenfold the profit of its refining/marketing division.

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