Oslo Børs down 1%, Statoil fell 3.3% – Stocklink financial information

Oslo Børs down 1%, Statoil fell 3.3% – Stocklink financial information

With a backdrop of sharply falling oil prices and continued uncertainty in the Greek debt drama was a weak day on the Oslo Stock Exchange.

The main index fell 0.99 percent Thursday to 614.52 points, burdened by Statoil decline of 3.3 percent.

Oil prices fell sharply before it is released new oil stock data from the US this afternoon. North Sea oil was traded for $ 58.4 per barrel, a decline of 3.5 percent.

Oil Smell

It also sent other oil related stocks downhill: Subsea 7 tumbled 3.8 percent, Seadrill fell 3.7 percent, the Norwegian oil company plunged 7.1 percent and Aker Solutions was down 5.3 percent.

The decline in oil prices was triggered by a measurement from industry group American Petroleum Institute, which indicated that US oil inventories rose above 14 million barrels last week, several times more than expected.

Today released official figures from the US Department of Energy (EIA). These, according to a Bloomberg survey expected to show that inventories of crude oil rose by 3 million barrels to 421 million barrels.

The figures for the previous week showed that inventories are already at the highest level at this time of year at least 80 years.

Yara against the stream

Among the other heavyweights went Yara against the tide and rose 1.5 percent, after the fertilizer producer has agreed with chemicals producer BASF Group for the construction of an ammonia plant at BASF plant in Freeport, Texas.

Yara stake in ammonia plant will be 68 percent, while BASF will own 32 percent, said Yara in a message.

The plant will have a capacity of about 750,000 tonnes per year and its partners will buy ammonia factory corresponding own stake.

The total investment for the plant is approximately $ 600 million, equivalent to around 4.5 billion. Yara, will also build a amoniakktank on the factory site, will invest a total of around $ 490 million.

Greek uncertainty in Europe

In Europe, there is still uncertainty around the Greek debt drama. Greece has applied the creditors in the eurozone for an extension of the rescue package of 240 billion euros expiring February 28, but the first reactions are cool in eurozone countries with Germany in the lead, who has insisted that an extension must also include continuation of the tough austerity conditions something Greeks are little eager.

After the election victory, the government of Greece has been on a collision course with the international creditors, over the harsh cuts the country were imposed in exchange for bailout after the financial crisis.

Greece requires easing, but the creditors with Germany striker has so far refused concessions and it has so far not come to an agreement.

Without continued financial support is great risk that Greece rapidly run out of money, after the current rescue package expires on February 28, with an output from the eurozone ultimately