Chief Executive Helge Lund pronounced his company, that has invested in offshore breeze and CO constraint storage (CCS) record in new years, was committed to renewables but usually up to a point.
"We are committed toward building renewables but the industry has to show it is going to be profitable," he told reporters. "Over time, it has to rise in to a essential industry."
"This is the shortcoming of any company," he said. "Like any alternative activity, (renewables) have to be tested opposite profitability and alternative measure over time."
Over the week end Lund told the informal every day Stavanger Aftenblad that Statoil should cruise inside of 3 to 4 years either it was right to deposit in renewables as well as in oil and gas.
The comments by Statoil come among concerns that domestic movement to plunge into tellurian meridian shift could deposit for years in the arise of the monetary crisis, spiteful the prospects for concurrent renewable appetite subsidies.
Norway"s largest association -- two-thirds owned by the state -- is a participating in multiform offshore breeze projects, together with the Sheringham Shoal breeze plantation off the seashore of eastern England.
It is additionally aiming to set up a full-scale CCS trickery at the Mongstad oil refinery in horse opera Norway -- a plan that has seen multiform setbacks.
Lund pronounced Statoil remained committed toward building CCS at Mongstad.
"We stay committed to Mongstad project, however difficult," he said.
(Reporting by Gwladys Fouche; Editing by Jane Baird)
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