Statoil Chief Rejects Production Cuts 

The President of Norway's national oil company Statoil, Mr. Arve Johnsen, has come out strongly against Norwegian participation in any market-sharing program or any reduction of output to stabilize prices. At a press conference in Stavanger on 6 March, Mr. Johnsen said that "what we manage to sell will be up to us," adding that "our goal must be to squeeze the last possible penny of income out of our operations."