Statoil gained 30 billion. Less last year – NRK

Statoil gained 30 billion. Less last year – NRK

The last quarter of 2014 was characterized by falling oil prices, also for Statoil. Today the result was put forward, and for all of last year, operating profit decreased by almost 30 billion to 136.1 billion in 2014.

For the fourth quarter adjusted earnings 26,900,000,000 compared to NOK 42.3 billion kroner in 2013.

– Statoil quarterly were affected by the significant drop in oil prices. The result was also affected by specific accounting items, says CEO Eldar Saetre.

Increases cash flow

Last year, cold shower that put a kind of standard for the year. Cuts in investment costs of 5 billion dollars, which at the time was a reduction of just over 30 billion Norwegian kroner. Now krona weaker and a corresponding cut would today be over 37 billion.

They warned nevertheless continued investment of 20 billion dollars per year until 2016. This promise bust now. Investments reduced by two billion US dollars, the equivalent of about 15 billion.

Along with an “escalation of the improvement program” and increased production plans will provide an enhanced cash flow of five billion US dollars before tax.

There are plans to increase production by two percent over the next two years and further after 2016.

Falling oil prices have seen last year, but Friday morning it is good news for Saetre. Oil prices continue upward, and is now over $ 57 a barrel.

Seller down in the US

The group has decided earlier this year to sell down six percent in shale gas field Marcellus in the US, which has given the $ 0.4 billion. it is mainly abroad losses coming for Statoil on the Norwegian shelf, they serve still good money.

Also on the Norwegian continental shelf and in Azerbaijan they have sold assets in 2014.

In the year ahead it is the improvement program and called portfolio adjustment are on the program. And Statoil writes in the announcement, that they will use the “flexibility in the portfolio” in order to have enough money to pay out dividends.

They propose a dividend of NOK 1.80 per share for the fourth quarter of 2014. On annualized, it will constitute 7.20 million.

Published 06.02.2015, at. 07.06