group received 8.3 billion more to spend after Friday’s sale of assets to the German oil and gas company Wintershall.
Since 2010, Statoil has collected close to $ 20 billion, or 127 billion, on sales of assets. It is as much as the company will use the investment annually until 2016 and more sales will be according to DN.
– Statoil needs every penny it can get, says analyst John A. Olaisen at ABG Sundal Collier said.
Friday it was announced that Statoil sells down the gas project Aasta Hansteen, oil field Asterix and gas pipeline Polarled, and withdraws from Vega and Gjoa field in the Norwegian Sea.
Sales frees up $ 1.8 billion or 11.4 billion in investment costs until the end of 2020, according to the company.
Analyst Olaisen gives DN three reasons why he smiles over sales:
– First, Statoil sold at a very good price. Second, it frees up capital to maintain yield. In addition, it increases the possibility that Statoil reduces investment target next year from 20 billion to 18 to 19 billion, says Olaisen.
He said that Statoil from 2014 to 2016, investing around $ 20 billion annually and that the price of oil fell below $ 100 a barrel this week.
– Statoil will have a negative cash flow after investments and dividends at an oil price below $ 100 a barrel, according Olaisen.
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