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Statoil and Hydro have received clearance from the European Commission for the announced merger between Norsk Hydro ASA's petroleum activities and Statoil ASA.The European Commission has declared that the merger is compatible with the common market pursuant to Article 6(1)(b) of the EC Merger Regulation. The clearance represents a major step forward for Statoil ASA and Norsk Hydro ASA in order to complete the planned merger. Merger clearances are still in the process of being obtained in other jurisdictions as required by applicable laws. (petrolplaza.com)