logo
Plus   Neg
Share
Email

Statoil ASA Q1 Profit Rises On Higher Production, Prices - Quick Facts

Norwegian energy firm Statoil ASA (STO) reported Wednesday that its first-quarter IFRS net income was $1.3 billion, up from $1.1 billion in the first quarter of 2017.

Adjusted earnings after tax were $1.5 billion, compared to $1.1 billion in the same period last year.

The company recorded solid earnings across all segments. Higher prices for both oil and gas, coupled with high production, contributed to the increase, it said.

IFRS net operating income was $5.0 billion in the first quarter, higher than last year's $4.3 billion. The increase was partially offset by reduced value of derivatives.

Statoil delivered equity production of 2,180 mboe per day, an increase from 2,146 mboe per day in 2017. The increase was primarily due to higher production in the US.

The underlying production growth was more than 2%.

Further, the company said its board of directors has decided on a dividend of $ 0.23 per share for the first quarter, on par with the boards proposal for increased dividend for the fourth quarter of 2017.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart Inc. (WMT) reported adjusted EPS of $1.41 for the fourth-quarter of fiscal 2019. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.33 for the quarter. Analysts' estimates typically exclude special items. Net income attributable to Walmart... Anglo-Australian miner BHP, formerly known as BHP Billiton, reported Tuesday higher attributable profit in its first half, while revenues were flat. Underlying EBITDA margin was lower. Further, the company maintained its dividend. Looking ahead, the company said its productivity for the 2019 financial year is now expected to be broadly flat. Asia-focused lender HSBC Holdings Plc reported Tuesday higher profit in its fiscal 2018 reflecting revenue growth in all of global businesses, despite a challenging fourth quarter. Further, the company said it reported a good start to 2019, noting that Group revenue performance in January was ahead of plan for the month. In London, HSBC shares were losing around 4 percent in the morning trading.
Follow RTT