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Enron crisis hits Norwegian firms

Statoil and Norske Skog are among the creditors after the bankruptcy of American energy company Enron. The two Norwegian giants will not release figures about how much they are owed the newspaper Klassekampen reports.

"It is true that we have an account to settle with Enron. Unfortunately I cannot say how large an amount is involved, except that it is not of a magnitude that could threaten our firm," said information director Kai Nielsen of Statoil.

The money owed Norske Skog is via Norske Skog Canada, a company where they own 36 percent.

Shareholders in Enron face losses, and this includes Norway's petroleum fund. The Nordic bank concern Nordea also stands to lose a significant sum on the Enron crash, after loans from Kreditkassen, a Norwegian bank now a part of Nordea.