Norway To Create Oil/Gas Powerhouse

The world of oil and gas production may soon have a new top dog. Two of Norway's leading companies, Statoil and Norsk Hydro, may merge to form the globe's most powerful offshore oil and gas enterprise. If the merger happens, the as yet unnamed conglomerate would have a market value of roughly $90 billion. Some speculate that politics are playing an increasing role in these big business decisions, especially after word came in October that neither of these two Norwegian firms would be allowed to cooperate with Russia for gas production out of the Barents Sea. Despite the political overtones associated with the move, Norway's energy minister has said that this is purely a commercial venture and "not about resource nationalism."