Copenhagen, Denmark-Norwegian statecontrolled Statoil on Wednesday posted a strong operational first quarter and predicted that total petroleum output for the current year would be 1%-2% above the 2017 level. The Stavanger-based group delivered equity production of 2.18 million b/d of oil equivalent during the period, up 2% from 2.146 million boe/d in Q1 last year. The company said the increase was primarily due to higher production in the US, and added that the underlying production growth for the group was more than 2% compared with Q1 2017.
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