Statoil's Canadian oil find could hold 600 mln barrels

OSLO, Sept 26 Thu Sep 26, 2013 2:08am EDT

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OSLO, Sept 26 (Reuters) - Statoil's Bay du Nord oil discovery offshore Canada, first announced in August, could contain between 300 million and 600 million barrels of recoverable oil, the state-owned Norwegian firm said on Thursday.

The discovery, around 500 kilometres (300 miles) northeast of St. John, is near Statoil's previous Harpoon and Mizzen discoveries, it added.

Statoil operates all three of the Canadian licences and holds a 65 percent stake while Husky Energy has a 35 percent interest.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.