Oslo, 1987-11-19: Large budget overruns for Statoil's refinery at Mongstad ..., 1987 (photo)

Oslo 1987-11-19: Large budget overruns for Statoil's refinery at Mongstad. The overruns increase during the autumn and amount to almost NOK 6 billion at Christmas time. The term "a mong" comes into being. Statoil receives strong criticism from the OAG, and the overruns cause political storm. The entire Statoil board and director Arve Johnsen resign in November 1987. Storebrand director Jan E. Langangen becomes new chairman of the group. The picture: Statoil's press conference on November 19, 1987. After a seven-hour board meeting in Statoil, the Group's management held a press conference, which maintained that the Statoil board will be seated, at least until the Mongstad case is for political treatment. Chairman Inge Johnsen (pictured) also confirmed that in the opinion of the Mongstad case, the Mongstad case does not give reason to kick Statoil's director Arve Johnsen. Photo: Eystein Hanssen