Oil dive increases importance of trading, says Statoil

Asset-based trading seen as crucial by Statoil in environment of lower oil prices

Oil rig
Statoil's Bjørnson: “very fundamental changes” for global oil market

The recent plunge in oil prices is increasing the need for upstream firms to have trading activities that take advantage of the flexibility afforded by physical assets, said Rune Bjørnson, senior vice-president of global sales, marketing and trading at Norwegian oil firm Statoil.

Bjørnson’s comments came at a presentation to International Petroleum Week in London on February 10, during which he laid bare the challenge posed by crude oil prices. These have declined sharply since their previous

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