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johnsyn

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johnsyn

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Friday, 10/26/2012 9:07:30 AM

Friday, October 26, 2012 9:07:30 AM

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8:54 AM Statoil (STO) posts a higher than expected Q3 net profit, but adjusted earnings were NOK40B, down from NOK43.1B Y/Y and missing analysts' forecast of NOK42.53B. Q3 production rose 3% Y/Y to 1.81M boe/day, but the recent license-swap deal with Wintershall on the Norwegian continental shelf is expected to lead to lower production in 2013. STO +0.4% premarket.

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