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.

by MAZ PLECHINGER

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.

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