STO, Yes, I don't understand it either. But I did read it.
I read the report in a magazine article in a library today, and later, all the time I was driving home and then around the house, I was wondering how is that such a positive for STO, if oil is priced in dollars? Dollar falls, oil price rises, so labor in Swedish krona what, the same? So Statoil profits more? If dollar becomes cheaper, dollar-based companies have less expensive labor. Statoil biggest retail seller of gasoline in Poland, if I read correctly. Something to do with the zloty vis-a-vis oil pricing or the US dollar? STO has operations in a lot of other countries too. So how much could the krona be so significant or relevant?
I decided way too many variables or implications for me to see what that Norwegian currency benefit could be or would be or is. So the krona base is not the reason or a reason I'd be a buyer/holder of the stock. |
