December 19, 2006	Tuesday	Ziqa'ad 27, 1427

OSLO, Dec 18: The Norwegian oil company Statoil is to acquire the oil and gas activities of Norsk Hydro, creating the world's largest offshore production group in a deal worth an estimated 23 billion euros ($30 billion). Together, Norway's two largest oil groups would have combined production of 1.9 million barrels per day in 2007 and 31,000 employees, the companies said on Monday. The merged company would be the world's biggest offshore oil and gas producer, far ahead of Anglo-Dutch Shell, Brazil's Petrobras and Britain's BP.—AFP