In line with other oil shares on the Oslo Stock Exchange, the share price of the oil company Okea, in which Minister of Research and Higher Education Ola Borten Moe is the tenth largest shareholder, has risen sharply since Russia’s invasion of Ukraine. writes DN.
Prices of oil, gas and a number of other goods have seen a sharp rise since the Russian invasion of Ukraine on 24 February.
Russia is an exporter of oil and gas, and sanctions against President Vladimir Putin’s regime are sending fossil fuel prices skyrocketing.
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At the same time, several of the leading stock exchange indices in the West have fallen significantly due to the uncertainty that has erupted in the markets. The oil-heavy main index on the Oslo Stock Exchange has performed well thanks to the high oil and gas prices.
The price of a barrel of North Sea oil has continued to rise over the weekend, especially on Sunday when the news of an import ban on Russian oil can be realized.
Winnings of over two million
February 23 was the last trading day before the invasion. At that time, the Okea share was last traded for NOK 29.20. Until Monday, the price has risen to 32 kroner – an increase of 9.6 percent.
Since the outbreak of the war, Okea has risen by around NOK 300 million in value to a market value of NOK 3.3 billion.
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Ola Borten Moe is now listed with 762,617 shares in the company.
According to DN Borten Moe’s shares have risen from NOK 22.3 million to NOK 24.4 million in the same period. This indicates a paper gain of NOK 2.1 million.
Extreme growth in the last year
Okea was started in 2015 in Trondheim, and Borten Moe was responsible for project development in the company until October 2019.
The oil company went public in June 2019. At that time, Ola Borten Moe had 552,000 shares in the Trøndelag oil company.
Over the past year, the share has risen 119 percent. So far, the percentage growth has been 26 percent this year.
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