StatoilHydro oil sands role at stake

A Norwegian opposition group said yesterday it would ask for a parliamentary vote next week over whether majority-owned oil producer StatoilHydro ASA should withdraw from its $2-billion Canadian oil sands venture.

The move marks an escalation in a row between oil interests and the environment just four months before Norway — the world’s No. 4 oil exporter — holds an election.

Norway’s Labour-led government said this week it would not back a resolution by environment activist group Greenpeace calling on Statoil to withdraw from the oil sands.

Without state support, the motion has no chance of passing at a Statoil shareholders meeting on May 19.

Reuters