Offshore

Statoil books surprising loss in Q2

Not many people had expected that the major Norwegian energy company Statoil would deliver a bottom line in the red for the second quarter 2016, but the low oil and gas prices caused a surprising loss for the company, shows the interim report. Further budget cuts are on the way.
Photo: PR-foto: Harald Pettersen
Photo: PR-foto: Harald Pettersen
BY TOMAS KRISTIANSEN

Statoil booked a deficit before taxes in the second quarter 2016 of USD 302 million, shows the interim report for the Norwegian energy company.

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