Statoil Q2 income surges but 2011 output seen lower

摘要

Copenhagen—Norway’s Statoil posted sharplyhigher second-quarter earnings July 28, large-ly meeting market expectations, but notedthat ongoing maintenance work will continueto crimp its output this year. The majority state-owned group said netincome excluding one-time items jumped toNOK12.8 billion ($2.37 billion) from a NOK31billion loss a year ago, helped by higher oil pric-es and a lower-than-expected tax rate of 71%.