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Strong performance of Statoil as it forecast further growth

Tuesday, 08 May 2012
The Norwegian oil and gas company Statoil reported a profit before tax of Nkr57.4 billion for the first quarter 2012. Similar period last year it was Nkr50.3 billion.  Analysts had expected an outcome of Nkr53.9 billion according to analysts’ consensuses, making it 7 percent better than expected.

Revenues landed at Nkr195 billion compared to Nkr146billion similar period last year and also compared to the expected Nkr185 billion.

Operating profit, EBIT, was Nkr57.9 billion compared with Nkr50.8 billion. Analysts had expected a profit of Nkr54.3 billion.

For 2012 Statoil repeats its forecast of a production growth of 3 percent based on the actual repeat production of 2010.
By Team

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