Shares in Statoil ASA and Norsk Hydro ASA jumped in late afternoon trade in Oslo, boosted by rumors that they have been invited to talks with Russian oil giant Gazprom about the development of the mammoth Shtokman gas field in the Barents Sea, dealers said.
At 4:10 p.m., shares in Statoil were up 3.5 nkr at 167.5, while Norsk Hydro was 2.75 nkr higher at 199.
According to traders in Oslo, there has been growing speculation today that Gazprom has approached the Norwegian firms about a possible role in the development of the gas field.
"We're not hearing specific details yet, but these are the strongest rumors I've heard yet," one said.
(AFX, 26/01/2007)