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2016-07-28 18:30:00

STATOIL CUTS $1 BLN

STATOIL CUTS $1 BLN

OGJ wrote, Statoil ASA plans to cut its capital expenditure guidance for 2016 to $12 billion from $13 billion. That includes an exploration guidance reduction to $1.8 billion from $2 billion.

The Norwegian state-owned firm's production guidance remains unchanged, with expected organic production growth of 1%/year from 2014-17.

Statoil recorded equity production of 1.96 million boe/d in the second quarter. Underlying production growth in the quarter, after adjusting for divestments, was 6% compared with last year's second quarter.

The firm took a second-quarter net loss of $307 million compared with a net profit of $861 million a year earlier. First-half organic capital expenditure was $5.3 billion.

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Earlier: 

STATOIL NET LOSS $302 MLN 

NORWEGIAN OIL & GAS DOWN BY $50 BLN 

NORWEGIAN MERGER 

NORWEGIAN OIL WILL DOWN 

THE NEW NORWEGIAN LICENSES

 

 

Tags: STATOIL, NORWAY, OIL, GAS

Chronicle:

STATOIL CUTS $1 BLN
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

STATOIL CUTS $1 BLN
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

STATOIL CUTS $1 BLN
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

STATOIL CUTS $1 BLN
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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