Statoil reports adjusted earnings of USD 857 million in the first quarter of 2016
- Strong operational performance – financial results affected by low price environment
- Continuing to capture cost reductions and efficiency gains
- Maintaining competitive capital distribution of USD 0.2201 per share
“Our financial results were affected by low oil and gas prices in the quarter. We delivered strong operational performance across all business areas, high production efficiency and results in line with expectations from liquids trading and refining. The guidance for 2016 is maintained,” says Eldar Sætre, President and CEO of Statoil ASA. …
