Billion dollar impairment sends Statoil into the red

Norwegian oil giant Statoil has performed a massive USD 6.1 billion impairment in the first quarter, though the company achieved a higher operating profit than expected.

Statoil was - in spite of declining oil and gas prices - able to deliver an adjusted operating profit of USD 2.9 billion before taxes, and USD 928.2 million after taxes, according to the company's first quarter interim report.

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