Norwegian energy provider Statoil's fourth quarter 2012 net operating income was NOK 45.8 billion. Net operating income for the whole year was NOK 206.6 billion. (Photo: Statoil CEO Helge Lund)
Statoil delivered equity production of 2,004 mboe per day in 2012, increased by 8% from 1,850 mboe per day in 2011.
According to a company press release, adjusted earnings increased by 7% to NOK 193.2 billion in 2012, from NOK 179.9 billion in 2011. Statoil achieved an organic reserve replacement ratio (RRR) of 1.1 in 2012.
"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 deliver 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," says Helge Lund, Statoil's president and CEO.
"Statoil's strategy remains firm. We continue our strong exploration performance, adding more than 1.5 billion barrels in new resources, and we are maturing our high quality project portfolio, including the Johan Sverdrup and Skrugard fields.
We continue to manage our balance sheet and enter 2013 from a robust financial position," says Lund.
Statoil's Board of Directors will propose to increase the dividend to NOK 6.75 per share for 2012. This is in line with the company's dividend policy and an increase from NOK 6.50 in 2011.
Statoil maintains its ambition of producing more than 2.5 million barrels of oil equivalents per day by 2020 and estimates organic capital expenditures for 2013 at around USD 19 billion. The company will complete around 50 exploration wells in 2013 with a total exploration activity level at around USD 3.5 billion.
(NRK/Press release)
The UN has requested that Norwegian police officers help with a future peacekeeping project in Syria.
..
The Sofie Prize 2013 is awarded to US journalist Bill McKibben for building a social movement, fighting to preserve a sustainable planet.
..
The Progress Party (FrP) held their National Congress this weekend, and discussed the party's main positions before this fall's election. They want to redefine "the Norwegian model". ..
The Norwegian-Russian Commission for Nuclear Security will meet in Kirkenes, Norway on Tuesday to discuss nuclear security in the North, the Department of Foreign Affairs has announced.
..
The clean-up process in the wake of the destructive floodwaters which hit Eastern Norway this week, has barely begun, but it is already clear that it will be a long and very expensive task...
The International Monetary Fund (IMF) has presented its views on the Norwegian economy and Norwegian economic policy, and concludes that the Norwegian economy continues to perform well.(Photo: Finance Minister Sigbjørn Johnsen)..
Norwegian energy producer Statoil has acquired a 12% working interest in the Block 6 licence offshore Tanzania from operator Petrobras Tanzania Ltd...
Norwegian Foreign Minister Espen Barth Eide is visiting Ethiopia, where he is attending Saturday's African Summit in Addis Ababa, marking the founding of the Organisation of African Unity (OAU) 50 years ago...
Although the rainfall has subsided over most of Eastern Norway, the water level in larger rivers and lakes are still on the rise. More people have been evacuated, due to danger of flush floods...
