Statoil presents disappointing 2nd quarter result

The state-owned Norwegian oil company made USD 370.8 million less on operations in the 2nd quarter 2014, though CEO Helge Lund describes the result as solid.
Photo: Trond Isaksen
Photo: Trond Isaksen

Norwegian Statoil achieved an operating profit of USD 5.15 billion in the 2nd quarter 2014, a decline of USD 370.8 million - corresponding to a 15 percent drop - compared to the same period 2013, according to the state-owned oil company's interim report, published Friday.

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