Statoil Climbs on Canada Find, Advancing Oil Prices: Oslo Mover
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Statoil ASA, the Norwegian energy producer expanding abroad to make up for falling output at home, gained the most in almost a year in Oslo after a third discovery off the coast of Canada and as oil prices advanced.
The shares climbed as much as 3.8 percent, the most since Sept. 14, 2012, and traded 3.3 percent higher at 136.3 kroner at 10:59 a.m. That makes the Stavanger-based company the third-best performer on the Stoxx Europe 600 Oil & Gas Index. About 4.5 million shares changed hands, more than 65 percent above the average volume in the last three months.