Strengthening position in Denmark

June 14, 2006, 13:00 CEST

Statoil recently concluded an agreement with Haahr Benzin to buy all of that company's 27 service stations in Denmark.

"This acquisition is an important strategic step to strengthen our position in the Danish petrol market," says Sten Åke Forsberg, senior vice president for retail in Statoil's Manufacturing & Marketing business area. "We will now be the second largest petrol brand in Denmark with a market share of 17 per cent. OK is the largest."

Fourteen of these stations are located on the Jutland peninsula, seven on the island of Fyn and six on Zealand. After this acquisition Statoil will have about 330 petrol stations in Denmark.

Mr Forsberg describes the acquisition as a positive and important development for Statoil's strategy in the Danish service station market.

Statoil will take over the stations from Haahr as soon as the Danish competition authorities have approved the agreement. This is expected to take from four to six weeks.