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Statoil Considers Leaving West Greenland to Keep Lid on Spending

Statoil ASA, Norway’s biggest energy company, may walk away from exploration in west Greenland as it tries to contain spending.

The licenses are an “exit candidate” as they are costly and Statoil is being choosier where it explores, Tim Dodson, the head of exploration, said in an interview in Sandefjord, Norway. “It has to do with the costly nature, it has to do with the risk profile,” he said, adding the matter isn’t yet decided.