Government buys more of StatoilHydro

The Norwegian government has ever since the merger of StatoilHydro and Hydro in 2007 intended to increase its stake in the company. After the merger, the state controlled 62 percent of the shares.

Over the last months, the state has spent 19,3 billion NOK on the acquisition 143,4 million shares.

-For the government, this is a long-term investment which is about securing continued industrial development and employment in the biggest and perhaps most important Norwegian company, Minister of Oil and Petroleum Terje Riis-Johansen says in a press release.