Statoil CEO Helge Lund said Monday that Western sanctions against Russia might delay some of the Norwegian oil group’s projects with Russian partner Rosneft. Bloomberg News STAVANGER, Norway— Statoil AS A has warned that Western countries’ sanctions against Russia will slow down the process of gaining approval for some of the company’s joint ventures with Russian oil group OAO Rosneft . Norway’s largest oil group said Monday that it will stand by its 27-month-old partnership with the state-controlled Russian company because it hopes diplomacy will resolve Russia’s standoff with the U.S. and Europe over the crisis in Ukraine . “This will be a more bureaucratic process, so that things will take more time,” Statoil Chief Executive Helge Lund said in an interview at the Offshore Northern Seas energy conference. Mr. Lund said not all of Statoil’s joint-venture projects with Rosneft would be slowed down, as sanctions target mainly shale-, […]