Statoil trays in 4. quarter – Hegnar Online

Statoil reported a profit after tax of minus 2.785 million dollars in 4. quarter of 2016, compared to negative 1.122 million dollars in the same period the year before.

According to TDN Finans was it expected a profit of 73 million dollars.

Earnings per share were minus 0,87 dollars, against minus 0,35 dollars at the same crossroads last year. Here it was waited with a result of 0.02 dollars per share.

the Result before tax was minus 2.735 million, compared with minus 473 million dollars the year before. Snittforventningene to the analysts indicate a profit before tax of 1.389 million dollars.

operating profit was minus 1.897 million dollars against 152 million dollars year before. It had analysts expected a profit of 1.681 million dollars.

Adjusted earnings were at 1.664 million dollars in 4. quarter of 2016, compared to 1.778 million dollars in 2015, and an expected adjusted operating profit of 2.206 million dollars.

operating Revenues amounted to 12.756 million dollars, compared with 13.093 million dollars in 4. quarter of 2015. Analysts ‘ expectations was here on 13.603 million dollars.

In today’s market, we delivered solid financial results from our Norwegian business and from trading and markedsføringsvirksomheten. The result was affected by the negative result from the international business which was due to expensing of exploration wells, high maintenance and depreciation. In the quarter, we delivered strong production and solid operational execution across all segments, ” says president and ceo Eldar Sætre in a comment.

- Good effect from the improvement program our gave annual savings of 700 million dollars over the goal of $ 2.5 billion. These are tangible improvements, and we’re aiming for a further $ 1 billion in savings in 2017, ” says Statoil chief.

Statoil delivered a production of 2.095 million boe per day in 4. quarter, up from 2.046 mboe per day in the same period the year before.

“the Increase was mainly due to the continued ramp-up of production on new fields and solid operation. Adjusted for the sale of assets, was the underlying increase in production to 2 per cent in the fourth quarter compared with the same quarter of the previous year”, states the message.

Here is the report and the presentation.