Statoil is starting to reap the benefits of its capital and operational efficiency drive, the Norwegian major revealed in its secondquarter 2015 financial results statement on Tuesday. Finance Chief Torgrim Reitan, who from August will move to Houston to head up a new, US-focused development and production unit, told investors that Statoil's efficiency programs are progressing well and its key initiatives, outlined in February, remain on track for 2016 (IOD Feb.9'15).
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