Statoil ASA: 2016 second quarter results
Statoil reports net operating income of USD 180 million and adjusted earnings of USD 913 million in the second quarter of 2016. The second quarter was characterised by
- Solid operational performance – while financial results are affected by low prices
- Maintaining production guiding – lowering 2016 capex and exploration guidance
- Continued focus on strict capital discipline
“We delivered solid operational performance with strong production growth and progress on project development and execution. Our financial results were affected by low oil and gas prices in the quarter,” says Eldar Sætre, President and CEO of Statoil ASA. ….