Norway's StatoilHydro on Tuesday raised its annual merger savings target to 7 billion Norwegian kroner ($1.09 billion) from an earlier forecast of 6 billion kroner, and said it aims to make further cost cuts in 2009 and 2010. Statoil said the savings result from its continued focus on improving operations and increasing efficiency since it took over Norsk Hydro's oil and gas assets in 2007.
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