Statoil Steps Up Cash Generation in 1Q 2018
Despite falling just short of market expectations, no-moat Statoil reported largely uneventful first-quarter 2018 results. Adjusted earnings after tax increased to $1.5 billion compared with $1.1 billion last year, despite only 2% production growth and a weaker refining environment as higher oil and gas price realizations more than offset increased royalty payments, higher depreciation charges and transportation costs, and disadvantageous movements in the NOK/USD exchange rate. Equity production...Equinor is engaged in oil and gas exploration and production activities. Co. is primarily focused on exploration, development and production of oil and gas on the Norwegian continental shelf (NCS). Co.'s operations are organized into four segments. The Development and Production Norway and Development and Production International segments explore, develop, produce and extract crude oil, natural gas and natural gas liquids. The Marketing, Processing and Renewable Energy segment markets, trades, transports and processes oil and natural gas and renewable energy. The Other segment consists of global well and project delivery, research and develpoment, and business development.
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