Thursday, February 07, 2013 4:29 am
Statoil profits halved in Q4 on lower oil prices
The Associated Press
The state-controlled company said net profit in the period was 13.0 billion kroner ($2.37 billion), down from 25.5 billion kroner a year earlier.
Revenue declined by 8 percent to 159.2 billion kronor, with higher gas volumes partly offsetting a drop in prices.
The report was clouded by a terror attack last month on a jointly operated gas field in Algeria. Five of the dozens killed were Statoil employees.
Statoil said the attack highlighted the "uncertainties related to production" from the field.