Norway’s Statoil has posted adjusted earnings of US $857m in Q1 2016, compared to $2.945 Bn in Q1 2015. “Our financial results were affected by low oil and gas prices in the quarter. We delivered strong operational performance across all business areas, high production efficiency and results in line with expectations from liquids trading and refining. The guidance for 2016 is maintained,” said Eldar S?tre, president and CEO of Statoil.
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