Statoil chief moves to quash reports of renewables exit

Statoil chief executive Helge Lund

Statoil chief executive Helge Lund

Statoil chief executive Helge Lund has moved to quash reports that the Norwegian oil giant could withdraw from the renewables sector.

Speculation was rife after Lund indicated Statoil might drop its investments in green energy in an interview with Norwegian newspaper Stavanger Aftenblad.

He said: “If fossil fuels are going to dominate the global energy picture over the next decades, then we have to assess whether it is viable to be engaged both in oil and gas and in renewable energy, as we are today."

But in a later press conference he claimed: "There’s no reason in my view to question our commitment to our strategy. It remains firm and has broad Log in to read complete article.

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