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Statoil lost USD 15 billion in three months

The Norwegian oil giant has lost upwards of USD 15 billion in market value alone in the past quarter. But the problems could become even more severe, notes analyst.

Photo: Harald Peterssen, Statoil

The sliding oil price and the low oil markets have taken their toll on Statoil. Specifically, the company's market value on the stock exchange has plummeted by close to USD 15 billion over the past three months, reports Norwegian business daily Dagens Næringsliv.

And the problems could become even worse for Statoil, explains analyst John Olaisen of ABG Sundal Collier to the Norwegian newspaper.

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