Statoil maintains pace

THERE might be an oil rout on, but that doesn't seem to be the case at Norwegian major Statoil, which is setting a breathless pace for new North Sea developments that might be the envy of the entire oil sector.

While companies are cutting spending and reducing activities, Statoil is keeping the drillbit spinning, most recently starting operations at its $130 million North Sea Fram field, which is aiming for