Statoil looking to trim costs further

Statoil's second quarter result finished above analysts' expectations, but was still far lower than last year. One-off items in particular boosted the company's bottom line. The Norwegian oil major will continue to cut costs, says CEO.

BY OLE ANDERSEN

Even though Statoil delivered a better result than expected by analysts for the second quarter, the state-owned Norwegian oil company will continue its efforts to reduce costs, increase efficiency and improve investment returns.

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