International Digest

Major oil discovery in Barents Sea
OSLO – Norway’s Statoil said yesterday a major oil discovery in the Barents Sea that could contain up to 300 million barrels of crude.
The Havis prospect is the twin of Skrugard, another deposit Statoil discovered in April 2011, confirming the potential of the waters as yet untapped in the Barents Sea.
Together the two deposits could contain between 400 and 600 million barrels of oil equivalent, Statoil said in a statement.

Virgin to shake up UK bankingLONDON – Businessman Richard Branson says he will shake up Britain’s retail banking system as his Virgin money group takes control of the nationalised lender Northern Rock.Branson paid the British government 747 million pounds or the troubled lender last year and said it will keep its 75 branches open for at least three years. He said the bank would offer easy-to-understand financial products.UK shareholder to curb big bonusesLONDON – Britain’s government is looking to introduce laws that grant company shareholders the power to veto executive pay packages, Prime Minister David Cameron said Sunday, in a bid to address public anger at many bosses’ lavish salaries and bonuses. Cameron said laws to regulate high pay in banks are likely to be proposed in the next few months. – Reports by Nampa-Reuters-AP-AFP