EnergyWatch

Huge impairments send Statoil into deficit

The Norwegian oil company heavily disappointed in the fourth quarter, closing 2016 with a deficit worth over one billion US dollars.

Statoil delivered an adjusted operating result of USD 1.66 billion in the fourth quarter of 2016, approximately half a billion USD less than analyst expectations and USD 120 million less than the same quarter in an otherwise tough 2015.

The figures were revealed in the company's quarterly report, published Tuesday morning.

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