Statoil Q3 net income increases

Fri. November 06, 2009; Posted: 09:14 AM

Nov 06, 2009 (Datamonitor via COMTEX) -- STO | Quote | Chart | News | PowerRating -- Norwegian oil and gas company Statoil has reported a net income of NOK6.6 billion, or NOK2.33 per share, for the third quarter of 2009, a 6% increase compared to NOK6.3 billion, or NOK2.04 per share, for the same period of 2008.

The company has reported total revenues and other income of NOK123.1 billion for the third quarter of 2009, compared to NOK174.5 billion for the same quarter of 2008.

Statoil has reported a net income of NOK10.6 billion, or NOK3.50 per share, for the first nine months of 2009, compared to NOK41.2 billion, or NOK12.95 per share, for the corresponding period of 2008.

Year-to-date total revenues and other income was NOK341.1 billion, compared to NOK505.3 billion for the first nine months of 2008.

Helge Lund, CEO of Statoil, said: "Statoil delivers solid financial and operational results and continues to maintain a high activity level both in Norway and internationally.

"We have increased our equity production to 1.87 million barrels of oil equivalents per day, up 8% from third quarter 2008. Our operations outside of Norway contributed with more than 500,000 barrels of oil equivalents per day."

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For full details on StatoilHydro ASA (STO) click here. StatoilHydro ASA (STO) has Short Term PowerRatings of 5. Details on StatoilHydro ASA (STO) Short Term PowerRatings is available at This Link.

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