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Statoil Halts Egypt Drilling Due Supply Chain Woes

Source: Reuters 2/9/2011, Location: Egypt

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* CEO says now not drilling in Egypt as not sure supply chain still working, declines further comment.

* CEO says difficult to say when will resume U.S. Gulf of Mexico drilling.

* CEO Says U.S. Gulf of Mexico drilling to resume later in 2011, probably not in Q1.

* CEO Sees gas demand increasing as global economy recovers.

* CEO Sees Asia and Europe competing for available LNG in coming years.

* CEO Sees huge opportunity for natural gas in China.

Unrest in MENA - The New Oil Order

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