Societe Generale News

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Barclays Rejects Arctic Drilling

project finance proposals to meet our criteria.”The announcement from Barclays is the latest in a series of major financial institutions rejecting drilling in the Arctic. Some of the world’s largest banks have made similar commitments, including HSBC, BNP Paribas, Royal Bank of Scotland, Societe Generale, and others.Recently leaders from the Gwich’in Steering Committee and the Sierra Club have met with representatives from Barclays to discuss the threats fossil fuel operations pose to the Arctic Refuge and why action by the financial industry is necessary, said Sierra Club.“Major

Oseberg field centre - Photo Harald Pettersen - Statoil.

Statoil Reports Robust Q1

billion crowns ($7.7 billion), from 42.4 billion crowns for the same period a year earlier. The result beat the 42.02 billion crown expectation of analysts in a Reuters poll.   "Statoil has demonstrated its strong comparative advantages compared to other European integrateds," bank Societe Generale said.   Statoil reiterated its commitment to cut costs to boost margins. It offered a dividend payment of 1.80 crowns per share for the quarter, as expected, and said it intended to maintain that level in the coming two quarters.   The firm's total equity production averaged 1

Oil Rebounds Towards $109

conflict over Ukraine also underpinned oil, although analysts do not expect sanctions to have a direct impact on Russian energy supply.   "It's very unlikely that any formal sanctions will extend to the crude oil or energy channels," Mark Keenan, head of Asia commodities research at Societe Generale said. "They rely too much on each other if you take Russia and Europe together."   Financial markets largely shrugged off fresh U.S. sanctions imposed on Russian firms and government officials on Monday, while the international oil business played it down, with traders and global

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