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Statoil hit with major setback in Q3

A significant setback on the top line and profits at Statoil in the third quarter, according to the interim report published Thursday. The result is below analysts' projections.

The third quarter saw Statoil's top line and earnings drop significantly, but the degree of the decline came as a negative surprise to analysts.

The operating profit declined to USD 636 million from USD 2.02 billion in the third quarter last year, informs the Norwegian oil giant in its third quarter interim report, published Thursday morning.

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