Statoil Operating Income Drops 4 Percent YoY In 3Q 2013

Hira Shahnawaz Akhtar

Published onOctober 30, 2013

Updated on May 13, 2021

Statoil ASA (NYSE:STO)’s operating earnings dropped 4% YoY on account of excessive depreciation and exploration expenses. Statoil recently released its accounts for 3Q2013 and revealed that its net income has dropped 6% to NOK 13.7 billion in 3Q2013 against NOK 14.5 billion in the same period last year. Adjusted income was up 1% to NOK 40.4 billion.

Table of Contents

Table 1: Statoil Income Statement 3Q2013

The revenues of the company increased 2% YoY, primarily due to an increase in revenues from development and production activities in Norway. The total oil and gas production of the company has increased...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

Statoil Operating Income Drops 4 Percent YoY In 3Q 2013

Table 1: Statoil Income Statement 3Q2013

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