UPDATE 1-NORDIC STOCKS - Factors to watch on Jan 16

(Adds Lundin Petroleum, Maersk, Statoil)

HELSINKI Jan 16 (Reuters) - The following stocks may be affected by newspaper reports and other factors on Monday:

LUNDIN PETROLEUM, STATOIL, MAERSK

Sweden's Lundin said results of an appraisal well drilled in the huge Avaldsnes oil discovery in the North Sea would "most likely reduce current resource estimates for this area."

Lundin has estimated Avaldsnes to contain between 800,000 million to 1.8 billion barrels of reserves.

Lundin has a 40 percent share of the Avaldsnes discovery, while Statoil holds 40 percent and Maersk 20 percent.

The combined Aldous Major South and Avaldsnes discovery, which has been estimated to have a potential of up to 3.3 billion barrels of oil equivalents (boe) in reserves, was made last year and could be the third-largest biggest oil discovery made off Norway.

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TORM

Danish shipping company Torm A/S said on Monday negotiations with its lenders were continuing and it expected them to extend a temporary halt in its debt payments.

Torm had announced the deal with its banks that temporarily deferred installments and suspended covenants on its $1.8 billion of debt on Dec. 5. That deferral had been agreed to run until Jan. 15.

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STATOIL

The Norwegian oil and gas firm said on Sunday the deadline to decide whether to develop Russia's huge Shtokman gas field has been put back to Apr. 1.

The final investment decision had been expected by the end of 2011 but has been delayed until the start of April to give the Gazprom-led consortium time to push for tax breaks.

"We can't commit for an investment of this magnitude unless we know the fiscal terms," Statoil CEO Helge Lund told Reuters in an interview.

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UPM-KYMMENE

The Finnish forest group on Sunday confirmed it will close down a paper mill in Germany after failing to find a buyer.

UPM has now confirmed closures of some 7 percent of its overall paper capacity, the plan it announced in August last year, as it aims to fight European overcapacity and falling paper demand.

The company said it is still looking to sell a Stracel mill in France to a non-competing buyer.

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KESKO

Finnish retailer said its December sales grew 7 percent to about 893 million euros ($1.13 billion).

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(Additional reporting by Copenhagen, Oslo and Stockholm newsrooms) ($1 = 0.7895 euros)