Statoil has been boring – and thanks for that – Aftenposten

Statoil has been boring – and thanks for that – Aftenposten

The company’s first boss, Arve Johnsen, went after overruns on oil refinery at Mongstad. The young oil company lay with a broken back. His successor Harald Norvik went after cost overruns on the shelf. It happened at the beginning of the privatization of the company. Successor Olav Fjell went after Iran scandal, where the company agreed to pay for corruption. Helge Lund went in October last year after nearly a decade as a senior, with no other reason than that he got significantly better paid in a smaller company in the British Isles.

The right man?

Eldar Saetre is no typical blåruss, although Sunnmøre educated at NHH. Chairman Svein Rennemo used many words to convince us all that Saetre was what he had always wanted as new CEO. The entire 100 days he spent convince Saetre. This may indicate that there is a person who is bursting with enthusiasm that now takes in Statoil.

All that followed the press conference from Fornebu, as a regime change that is completely undramatic. Yes, almost boring. I have followed all chief changes in Statoil since Arve Johnsen was fired for overruns at Mongstad. Never have a press conference at a manager change in Statoil has been characterized by kinder questions and been so quickly as this one.

Looking job?

Apparently getting Saetre an easier job than its predecessors. He does not start with an organization that has received a lot of beating in the public space. There is no cleaning job that requires he grabs tomorrow. On the other side takes over, he is perhaps the most challenging period for an oil company.

Saetre is the man who must cut costs. He will adapt to a climate reality which may mean that the development of oil and gas in the Barents Sea shelved. Low oil prices may cause the projects are not feasible, and that the group must go out and find a partner. We see that surpluses in oil companies breeds. Such is often mergers.

Boring company?

Statoil is no longer the company that stands for entertainment in Norwegian industry. That scandals. That we as owners all be happy. Although the company now has rounded the 40, seems duller, not the surroundings become it. Climate change, costs and low oil prices are going to be enough to ruin your sleep to management in Norway’s most important company.

Eldar Saetre can come to feel former bosses had it easier that just had to clean up a little scandal after its predecessor.

Published: 05.feb. 2015 0:08