New Statoil boss to target costs over growth

摘要

London—Norway’s Statoil is expected to keep cost controls as a top priority over production growth following the announcement Wednesday that acting CEO Eldar Saetre was confirmed in his job after a four-month search. Saetre, 58, is the first CEO to be appointed from within the Norwegian state-controlled group and is seen as a company man through and through—a safe pair of hands expected to be able to pilot Statoil through the stormy waters of the oil price correction using the tools already at his disposal.