Norwegian oil and gas giant Statoil ASA (STO) announced its fourth quarter 2012 results on Thursday, February 7. The company showed considerable growth compared to the fourth quarter of 2011 and continued advancing on its growth agenda. According to CEO Helge Lund,
"2012 was a year of strong strategic and operational progress for Statoil. We grew our production by 8% in 2012, in line with the target we announced in 2011, and we delivered strong earnings growth. We are well underway to deliver profitably on our ambition of producing more than 2.5 million barrels of oil equivalents per day in 2020."...
Here are the highlights from the company's fourth quarter:
- Statoil's net operating income was NOK 45.8