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Statoil forges ahead in first quarter

Major Norwegian oil company Statoil made a huge profit on oil and gas in the 1st quarter, surpassing analysts' expectations by several leagues.

Photo: Trond Isaksen/Statoil

Statoil made a ton of money on oil and gas in the first quarter, surpassing analysts' expectations by several leagues.

Revenue increased to USD 29.2 billion, up from USD 27 billion, with analysts predicting a decline to USD 26.7 billion, according to estimates by SME Direct.

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