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The Wire

Oil leak shuts down StatoilHydro platform

State-controlled Norwegian oil company StatoilHydro ASA was forced to shut down its Statfjord C offshore oil platform Friday after it leaked water contaminated by oil into the North Sea.

StatoilHydro announces cost cuts for 2009

State-controlled Norwegian oil company StatoilHydro ASA announced plans Wednesday to cut its 2009 costs by 1.5 billion kroner ($215 million) to adjust to weaker market conditions amid the world economic downturn and lower crude prices.

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