Statoil boosts profits amid record output and high prices

Statoil ASA, (formerly Den norske stats oljeselskap), Norway's oil and gas exploration, production, transport, refining, and marketing giant, delivered fourth quarter operating profits of 12.7bn nkr (€1.442bn) compared to 11.3 bn nkr (€1.282bn) a year earlier, amid record oil and gas output and high prices.

Sales in the fourth quarter came in at 64.960bn nkr (€7.374bn) against the previous year's 64.612 nkr (€7.336bn), exceeding analyst's expectations.