Statoil ASA (STO)

[johnsyn]

8:16 AM Statoil (STO) says it expects to invest $18B in capital expenditures in 2012 due to higher activity, as it posted a slightly lower Q2 net profit. STO says that even though a large economic crisis isn't expected, the company can handle it if oil and gas prices drop for a long period: "The first line of defense is always to have a lot of money available, and we have." STO +2.6% premarket.