The company published its annual results while also attended its capital market day 2017. Q4 results Statoil posted results below expectations with adjusted profit at $1.66bn vs. $2.27bn expected. The group’s production was 2,095mbpd, up from 2,045mbpd a year earlier. The group also had an impairment of $2.3bn as it reduced its long-term price assumptions. The group now expects Brent crude to reach $75/bbl in 2020 (vs. $83/bbl earlier) and $80/bbl in 2030 (vs. $100/bbl earlier). Also, l
09 Feb 2017
Q4 16: below expectations but good cash generation, more cost cutting
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Q4 16: below expectations but good cash generation, more cost cutting
The company published its annual results while also attended its capital market day 2017. Q4 results Statoil posted results below expectations with adjusted profit at $1.66bn vs. $2.27bn expected. The group’s production was 2,095mbpd, up from 2,045mbpd a year earlier. The group also had an impairment of $2.3bn as it reduced its long-term price assumptions. The group now expects Brent crude to reach $75/bbl in 2020 (vs. $83/bbl earlier) and $80/bbl in 2030 (vs. $100/bbl earlier). Also, l