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Lundin's operating profit soared in third quarter

An improved oil price strengthened the Swedish oil company's operations and revenue in the third quarter. Lundin now expects that total costs in 2018 will be below USD 3.8 per barrel.

Like its competitors, Lundin Petroleum is benefiting from an oil price that has been steadily climbing in 2018 so far.

The Swedish oil company, one of the partners in the Johan Sverdrup North Sea project, saw its revenue and operations skyrocket in the third quarter, shows the report released Wednesday.

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