Oil firm Statoil makes first investment in solar tech

Norwegian oil major Statoil has made its first investment in solar power technology, stepping up efforts to gradually complement its petroleum portfolio with renewable assets, the company said on Tuesday. "We are taking a first cautious step into solar with an investment in Oxford PV," Statoil Chief Executive Eldar Saetre told and industry conference on Tuesday. Statoil declined to disclose the price, but said it was a smaller venture investment.