UPDATE 1-BP and Det norske agree $1.3 bln Norwegian oil merger

OSLO/LONDON, June 10 (Reuters) - Oil companies BP and Det norske have agreed to merge their Norwegian businesses in a $1.3 billion share deal to cut costs, increase profitability and challenge Statoil's Norwegian offshore offshore dominance.

from Reuters: New Issues News http://ift.tt/1TYOuOX