Big Tax Bill Wipes Out Statoil's Profits

摘要

Norway's StatoilHydro made no money in the second quarter as a freakishly large tax rate clouded what was a solid operational performance from the company. The group made neither a profit nor a loss for the quarter as lower oil and gas prices, currency effects and taxes reduced the net profit figure to zero. In the second quarter of last year, the company made a net profit of 18.9 billion Norwegian kroner ($3.1 billion).