Analysts: Escalating sanctions could force Statoil to end deal with Rosneft

08/3/2014 | Bloomberg Businessweek

Analysts say that increasing sanctions imposed by the U.S. and EU against Russia could pressure Statoil to end an oil exploration deal with state-run firm Rosneft. Their agreement has over a 50% possibility of being scrapped or revamped, Swedbank First Securities analyst Teodor Sveen Nilsen said. Statoil spokesman Knut Rostad said, "We'll have to spend some time to understand the details and what they potentially mean for us," adding that it is too soon to predict the sanctions' potential impact on Russian operations.

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