*News Release:*
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*Statoil in trouble with major investors over its tar sands involvement*
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13 May 2009 (Oslo, Norway) — Four major investors are putting pressure on
Statoil to withdraw from the tar sands, Greenpeace has learned.
Danske Bank has expressed its opposition to the contentious project while
Norway’s largest bank, DnBNOR, is holding meetings today to discuss whether
continued involvement in the Alberta tar sands is a sound investment.
In addition, prominent Statoil stakeholders, Folksam, a Swedish insurance
company and KPA, a Swedish pension fund, have already sent in their votes in
favour of a motion by Greenpeace that Statoil withdraw its investments from
the tar sands, after the companies learned about the realities of tar sand
development over the past few weeks.
Greenpeace is making the tar sands a key issue in Norway, Sweden and Denmark
in the lead-up to Statoil’s AGM on May 19th. As a minor stakeholder,
Greenpeace has brought forward the motion for the AGM that Statoil withdraw
its investments from the tar sands.
The Alberta tar sands has dominated headlines and television news since a
Greenpeace Canada delegation arrived in Oslo Monday. Two of the delegates,
Andrew Nikiforuk and Dr. John O’Connor, have raised concerns about the
environmental, social and financial risks of tar sands investments that are
reverberating through the Nordic business community. A two-page story on the
delegates ran today in Norway’s largest business newspaper, as well as a
full-page profile on Nikiforuk.
“Hearing Canadians telling their own story about the reality of the tar
sands is making all the difference,” said Martin Norman, Greenpeace Nordic
energy campaigner. “Already politicians and investors are telling us they
are upset they have been so misled.”
Statoil’s purchase of tar sands rights in Canada in 2007 created headlines
in Norway critical of the company and internal unrest in the company.
Statoil has lately tried to create an impression that the company has chosen
In Situ extraction because it is an environmentally friendly form of
extraction, and that carbon capture and storage (CCS) will solve the
emission problems related to tar sands. But the Greenpeace delegation is
explaining that In Situ has a much large environmental footprint than open
pit mining, and that CCS is simply not viable in the tar sands.
Media interest in Dr. O’Connor and Nikiforuk continues to be strong in Oslo.
They spoke at a news conference today before national and international
media and later met with the Norwegian deputy minister of petroleum and
energy, as well as with opposition party Christian Democrats. This evening,
Melina Laboucan-Massimo a third delegate, will join O’Connor and Nikiforuk
to speak to media, government and industry at a film screening. Statoil CEO
Helge Lund has been invited.
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For more information, please contact:
Jessica Wilson, Media & Public Relations Officer (in Scandinavia), +47 942
66876
