Statoil (STO) posts 58% lower Q1 net profit Y/Y amid lower production volumes and prices....

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO) posts 58% lower Q1 net profit Y/Y amid lower production volumes and prices. Adjusted earnings were NOK42.4B vs. NOK59.2B in the year-ago period and analysts' forecast of NOK47.98B. Revenue fell 22% to NOK47.9B vs. NOK61.8B a year ago. Overall production was 1.99M boe/day vs. 2.19M a year ago, hit in part by the attack on the Algerian In Amenas gas plant. Shares -2.7% premarket.