Wall Street Journal | Statoil Exits Production in Canadian Oil Sands Wall Street Journal CALGARY, Alberta—Norway's state-owned oil giant. Statoil ASA. said Wednesday it is exiting its business in the Canadian oil sands, selling off its assets to Athabasca Oil Corp. and taking a loss of at least $500 million. The move ends Statoil's nearly ... Norway's Statoil retreats from the oil sands Statoil to sell Canada oil sands assets to Athabasca Oil Corp |