Statoil ASA (STO)

[johnsyn]

:58 AM Statoil (STO): Q1 net profit -5.4% to 15.12B kroner ($2.61B), beating consensus of 14.99B kroner. Revenue +34% to 194.8B kroner vs. estimate of 183.95B. Shares -0.2%. (PR)

8:14 AM More on Statoil (STO) Q1: Profit fall due to a one-off sales gain last year and higher taxes. Revenue increase mainly due to higher oil and gas prices, and volumes. Production +11% to 2.19M bpd, helped by new output in Brazil, Angola and Norway. "The long term pressure on energy prices will be upwards," predicts CEO Helge Lund.
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