Oil price sliced 4 bln USD from Statoil result in 2014
The falling oil prices impacted Statoil's annual result. The annual result for 2014 is USD 4 billion lower than the previous year and the fourth quarter earnings took a dive.
BY SØREN SPRINGBORG, ENERGIWATCH
The crisis in the global oil market is now severely affecting the Norwegian oil sector. In the fourth quarter 2014, Statoil saw the company's adjusted earnings nearly get cut in half compared to the same quarter in the previous year. Adjusted earnings finished at USD 3.5 billion in the fourth quarter 2014 - compared to USD 5.6 billion for the same period the year before.
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