Norsk Hydro expansion moves to Brazil

摘要

London-Norsk Hydro's decision to buy the undeveloped Brazilian oil assets of Canada's EnCana gives further evidence of the Norwegian company's burgeoning drive to expand its international portfolio.Having identified development of its international oil activities as a priority at the end of 2004,Hydro has been busy this year boosting its presence in a number of areas,aiming to lessen its dependence on oil and gas revenues from fields offshore Norway.