Statoil ASA (STO) Thursday posted net income of NOK 6.4 billion for the first quarter, down from NOK 15.4 billion in the corresponding period last year. The company cited lower production and reduced prices that hurt the results.
Adjusted earnings after tax were NOK 12 billion, compared with NOK 16.8 billion for the year earlier period.
Further, Statoil's net operating income was NOK 38 billion, down from NOK 57.9 billion reported for the same period last year.
The company said production was impacted by operational disruptions at Snøhvit, Troll and Peregrino while the net operating income was also impacted by a provision related to the Cove Point terminal in the US.
Looking forward, the firm said it sees production in 2013 lower than in 2102 as previously announced.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.