【BREAKING NEWS】Statoil income skyrockets

Statoil has posted a massive jump in quarterly income compared with the corresponding quarter in the previous year, after a successful first quarter.

The Norwegian company made Nkr23.7 billion (US$3.9 billion) for the first quarter of 2014, up from Nkr6.4 billion in the first quarter of 2013.

Statoil president Helge Lund said the company was helped by high prices and good results from the company’s US gas value chain.

Lund said these things contributed to a 9% increase in adjusted earnings compared to the same quarter last year.

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