Increased profit for Statoil


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Wednesday, 04 May 2011
Norwegian oil giant, Statoil reports an operating profit of Nkr50.7 billion in the first quarter of this year. The corresponding period last year profit was Nkr39.6 billion.

Rising prices of oil is the main driver for the profit increase, the company said.
Statoil believes that production in 2011 will remain at about the same level as in 2010 or possibly slightly below.
Adjusted earnings for the first quarter stands at Nkr47.3 billion compared to Nkr38.9 billion last year.
By Team


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